Transcription
What is good, ladies and gentlemen? Um, I want to do a little bit different of a stream. Today is September 2nd, by the way. I want to do a little bit different of a stream. Um, since we've kind of been breaking things down with the day-to-day analysis. U, I want to get us a reminder, a refresher, and an updated look of a monthly outlook of these tokens and the asset class that we're participating in.
Um, because, yeah, now it's September. It's a different month from August, which was a different month from July, obviously. And the sentiment changes, and you get enough data to start building a different perspective or bias, per se, on the chart. So, um, yeah, I want to look at a little bit more of a macro scale, how these charts are looking. You guys know what I'm seeing and what can make sense, and then also zoom in a little bit to get more clearer ideas on this.
But like, for example, if I go to the weekly chart on Ethereum and I just kind of zoom in here, it's sort of a choppy-looking chart when you zoom back over the past four years, right? Um, but what I, what I want to focus on is really the past year, almost year and a half. Um, because there's a couple things, or a couple ways you can look at this. So, initially, when we've been talking about this breakout, right? You had this consolidating range, um, back in March of 2024. Um, and then the price broke down and then gave us this bear trap, right? Broke under, came back, kind of showed signs of a breakout to the downside, trapped a lot of traders there. And then look at this institutional candle right off the 200-day moving average. We talked about this, you know, uh, probably like two months ago, plenty of times, but had this consolidating pattern that showed a bear trap, um, and really looked like a strong bearish. It didn't even look like a bear trap at first. It looked like a bearish breakout, 'cause you had the break, the retest, and then, yeah, this institutional candle just sent us off. And then it goes from that consolidating range to sort of like this expanding triangular pattern where now you're getting like higher highs and lower lows simultaneously. So that's why I say it's a bit of a choppy market as of right now. Um, but it's not necessarily a bad thing.
But the thing I see when I zoom out that stands out clearly is you have these two local high double tops, uh, the double top local highs, um, from February and December of last year. Price finally broke above that. So when you're looking at it for the macro scale, the top support line is really in this range right here between this blue and black line. If I circle that, you're at 4155 all the way down to 39.90. So, just around four grand, right? So, four grand being a psychological level. Um, it would make a lot of sense if this thing wanted to pull all the way back on a macro scale and kind of flip this previous resistance that was a resistance line for over, I don't know, let's see, from February all the way till we broke it in August. I mean, you're talking over half of a year held as a resistance line. You have the opportunity to set that as a support line on the macro scale. So the chart is showing some nice proper structure.
It's just the not so funding is when you're in a bull market or compared to a bearish market. Like, look at the bearish market. You have it's sideways and it goes slow, right? You're talking February all the way to November in one year of just kind of down and to the right. It's not fun, not exciting. It takes its time. Then look at you get a pump and the pump goes from November to December and that's it. And then boom, December all the way to March, April, almost into May, essentially almost another five months. And then boom, you get this big impulsive candle or this big impulsive move that doesn't even last a full month. And then boom, even this little one right here, May, June, all the way two more months of just sideways action. And then look at this. We have this big run to the upside. But what I'm getting at is the pullbacks and the dips take so much longer. But when you're in a bull market, those moves, they happen and they happen fast. But you got to understand, they happen fast for everybody that's invested into these tokens, right? These moves happen so fast that people that hold these assets at 2500, now you're talking at near five grand, you're talking double the investment, right? Just in that move alone, not even considering being at 1500. Now you're talking three, almost 4x their investment in a matter of a couple months after holding it for a year plus seeing it go down.
So the reason and the psychology in the market behind that is just understanding like, hey, you're going to get these pumps, they come, they come fast. But a bull market does not mean that everything just goes up and to the right non-stop without any resistance because the resistance and the dips take so much longer. So I say all that because this thing can keep ripping at any time. When it decides to take off, it'll happen. It'll happen fast. Next thing, you know, you're talking $6,000 Ethereum in a snap of a finger. But it's just a matter of how patient are you going to be? And the market's going to force everyone to be patient when waiting for these types of gains. Um, because right now we've been like, "Oh man, it's been dipping and pulling back for a while now." This is only two candles worth of a pullback. So this thing could really test people's patience. And like I said, this golden area is around the $4,000 range. And also consider the fact that this 3750 red range right there, we've never really tested as a support line. So if the market decides to just keep cooling off, it might seem like a bearish down into the right thing in the near future, in the short term. But when you really zoom out, that is proper structure that would make a lot of sense from a technical analysis standpoint. So I just want to focus on that at least for Ethereum. Just kind of show you guys that picture that you really have this chance to flip this double top into a support, and it could take weeks. It could be two, three, four, five, six candles. Every candle is one week. So, it could take some time, but, um, it's not necessarily a bearish thing, although it does not mean that, hey, you're waking up and you're filthy rich tomorrow in that sense.
Um, and now looking at the Hex and Pulse chain side of things. Um, looking at the weekly chart for Hex, for example. Reset the chart view. Now, this chart is just coiled up. One coiled up chart going sideways since its inception on Pulse Chain. Sideways non-stop. And again, look at the down and to the right from July, May of 2023, basically till August of 2024, and then you get this big pump that lasts just a couple months, and then it goes down. And the pump, like right here, this pump is just so volatile. Like when this thing rips, it rips fast. And I think everyone's aware of that, the potential in these types of tokens. But, um, what we're seeing now with all that being said, I'm going to keep these lines on here for all of the micro analysis that we do in this Patreon. Um, so I won't clear that out. So, sorry for the mess. But what we're seeing now is, yeah, you had this big impulsive move that just ripped. Every candle's one week. We had one, two, three, four, five straight weeks of pumping. That's a month and some change. And now we got three weeks of a dip. So, it's sort of reset itself. And like I always tell you guys, when we see these impulsive candles, you get that big impulsive move, the market wants to sort of just balance itself and move in waves, right? Big move, pullback, moving waves. Big move, pullback, moving waves. So, kind of what we're seeing here is that you got the big move, you're seeing the pullback. It's just trying to reset itself and find its next bottom to, to get that next leg up.
Now, the promising thing that made me come back to streaming at this stage of the market is, remember, you have this cycle low that wasn't as low as the all-time low, but then from that cycle low, you create this new high, which was a lower high. So, we were intact. The, the downtrend was still intact, right? That downtrend still intact. But then the big thing here is that remember we had that big 600 million Hex sell wallet, that guy that cleared himself out down here. We never made a new low. We actually made a higher low there. Now, the interesting thing from that point was, okay, do we honor this downtrend that the price has been in since the beginning of the year? That trend right there. Well, we set a higher low. That's a good sign of a reversal for the cycle. Second sign of confirmation is breaking out of that higher, uh, higher low and then breaking over this top, which was around a penny, to set a new higher high. Hex did that. The ecosystem did that. So now this is even more convincing that we are in fact out of the bear market into our own bull market. Um, and I know people are kind of getting caught up in the clutter along the way, but you have to really just sit back and think like, man, this chart needs to print its structure because we broke out of the downtrend, we set higher lows, and then out of after breaking the downtrend and confirming a reversal pattern, we set a new high. And that's where we're at. The stage of the market, the new high has just been set. Now, we're currently printing the next chapter in this story. Ideally, the next chapter is going to be a higher low. Of course, higher low can be here. Higher low can go all the way down to 7/10 of a penny right here at this yellow line. That's why I don't delete these ranges and these lines that we draw previously because in the future, and that's to the upside too, in the future prices can return to those ranges. Um, but yeah, so I say that because price could go as low as 7/10 of a penny still. Even though we're at 0.85, we're pretty high up there. We don't want to see it go that low. But I'm just trying to get you guys peace of mind that there's still room here where you're still confirming this, this series of higher highs. If that happens in that environment, you're talking about this kind of streamline process, slow and steadily just moving up, and then before you know it, the, the more higher lows you get, the more strength you set on that floor and more momentum you put into the chart. And then that's when you see stuff like, like these types of candles. I mean, we obviously know what Hex has done from 2020 to 2021. This time around, there's way less sellers in the market, um, compared to what there used to be.
But like even then, and this is Pulse Chain in a bear market from September '24, we were at all-time lows at 3 and a half tenths of a penny. I think shot all the way up. What was that number right there? Shot all the way up to 3 cents. I mean, you're talking a 10x, almost almost a 10x just in that move alone. And that went from September to December. Not even a full two months. It was a seven-week span. Uh, no, I lied to you. Three-month span. Sorry, my math was not math. And so, yeah, three months, quarter of the year. It did almost a 10x in price in a bear market. So, that's impressive, right? But now you're talking about the structural shift. Now, this isn't just like, oh, market bottomed out and boom, we're taking off and we're gone. No, this time around we're seeing that slow structural reversal. You're getting the confirmations you would want to see when you're doing technical analysis, although it is a low liquidity coin. Um, you're seeing a bunch of these positive signs across the board. So, yeah, I just want to point that out to you guys that Hex, Ethereum, all these tokens are just doing so well as of late that no matter how far they go, there's still room that shows promise.
Wow. We're looking at Pulse Chain itself. I don't know why that big candle ruins everything for everybody in the beginning, but let's do this. So looking at the Pulse Chain token. Um, same thing here, right? So you have this all-time low back in March. Hang on. Just making sure that's good. All-time low that was set here in March. And then you have this new high that made a bounce, right? But at the end of the day, you're talking, I mean, you have this initial downtrend that was being formed. Look at that. Had this initial downtrend, found a low. First thing you want to do is just break out of this trend, right? And price obviously broke out of the trend. And this line's not exact. I'm just drawing it quick. But once you break out of the trend, what's the next sign you want to see out of that, uh, moving resistance line is the resistance line to be broken and then flipped to a support line before it moves up. And you get that right here. If you break out of the trend, resistance comes down and gets flipped to support right there. And then price moves up. And that's like, that's the second good confirmation of a trend reversal that you'd want to see. And that's just one of these trends. Third confirmation is, okay, once we break out of that set, uh, its local high, is the low going to be higher than the previous low? And we got that. We got the higher low, right? The next sign you want to see, it's like, okay, we're for sure out of this market. Boom. You want to get that higher high broken. We got the higher high broken. So now we're in consecutive higher highs, consecutive lower lows, or higher lows. This thing can keep printing and painting up. This thing can come all the way down to the 30-31 range if it wanted to, right? They're not saying it will, but it could go all the way that lower at 39.40 right now. It can go that low and still hold this channel of structure, right? So promising sign across the board. Obviously, you want to see higher highs, uh, sooner rather than later because initially in a perfect market, you want to see this previous high be held as a support line in the future. We're kind of in that range right now. So, this could turn that local high into a support line, and then that previous lower high can be eventually broken and then, you know, turned the next range of support after the market wants to move its way up. But yeah, so it's a little choppy now, but we're in that range of that previous local high. There's still a good chance that this thing could hold, but even if it doesn't, there's still plenty of room down on the macro scale.
So, overall, I just want to give you guys my peace of mind that I am fully under the belief that this market has reversed and we are no longer in a bear market until further notice. And this is going to have to come way down. If it comes way down and invalidates that, like, okay, the sentiment has shifted. But until then, this market's showing too much promise on the macro scale and micro.
Um, incentive token, same sort of thing. Incentive token had its own bull market. This was that year I was going crazy on Twitter being just a total Inc bull. And that was when Inc. did crazy numbers. I mean, it was nuts. That was a bull market within Pulse Chain on its own. That was beautiful. And then from that bull market, so many people made so much money that of course you get that big impulsive vertical move that imbalance gets filled. If you really think about all those imbalances I talk about, that happened on a macro scale. We had this macro imbalance that got filled that it pumped for about two months and then dipped for the rest of the year and it tried to work its way out. But ever since then, price is just kind of staying sideways at this middle of the imbalance range. But on the macro scale, all this structure you have right here, kind of just extending that, see that? That's where you found your low in this cycle. I know it's just a, a box being drawn, but you, you do have previous structure being tested that got tested. Uh, you have this imbalance being completely filled now. So the market has its structure and this has taken some time, almost two years, right? So it's easy to do the analysis and make it sound like, oh, just a piece of cake. I know the hard part's living through a day-to-day when you're in a bear market, like, man, do I want to keep holding this investment? But anyways, yeah, so you, you kind of made this new downtrend. And so Incentex, because Incent token had its own bull market, right? So we're talking about a coin that did a bull, that had its bull run even though the other coins didn't. So when we're looking at this coin saying, hey, it's still in a downtrend, it's in a different context because this coin's in a downtrend because it had a bull market, so it's, it's reversing itself and it's actually trying to flag itself like bull, like a macro bull flag. I mean, it's not really what you want to call a bull flag, but impulse correction. So it's still at this current moment. What I mean, I don't think it's going back below half a penny ever again. If it does, I'd stand corrected and gladly admit that, but it would have to go really low for it to invalidate that. But really, you're finding structure down here. So, um, but I say that because it's still honoring this trend. So when you zoom out, the fact that it topped, I mean, we did top at the 260 range, but that was a wick on the weekly candle. It kind of slowly curved and topped here, right at this trend line that we've had intact since March of 2024. So the fact that it respected that, it's not necessarily a shocker in hindsight. I know it sounds easy to say because I'm looking at it with the data already being spilled out, but in hindsight, it's like, oh, there was a trend line there, right? So you have the trend line being honored. No shocker.
Now, the important thing is what kind of structure do we find along the way down? Positive sign, we got these higher lows. Higher low. We're in the midst of a higher low. It's, it's at that moment of truth, uh, part of the market where it's like, is this a higher low or we breaking lower? So, like it broke lower last week to $1.37, but the week closed positive. This thing can drop all the way to A128 again, but it can turn into a wick. So, right now, we're trying to find that structure. So, the same way we saw those breakouts and sort of got the confirmations of a, of a market reversal on Hex and Pulse, you can have that same opportunity here potentially where, like I said, the first thing you want to do is set the higher low. Got once you get the higher low, you break out of the downtrend. Like, let's say you break up, come back to this range, and then you want to confirm the downtrend with a nice candle, downtrend resistance line. You want to flip the support line so you can break out, get to that range, and then from there, next thing is push up and then create, I mean, you're already getting consecutive highs right here, but you want to break over this high. On the micro scale, these are consecutive highs, but on the macro scale, you want to get over this high. So, once you break, retest, get the moving support line, you want to get above this $3 range, right? And then set a newer high. If you can set a newer high through that, after breaking out of this range, this thing will be primed to take off. So, I like the, the, the volatility factor in an incentive token and, um, although the chart doesn't have the confirmations that Hex and Pulse are seeing at this current moment, does not mean it's a bearish thing. It's because this coin has been performing better overall since December of 2023, essentially, uh, 2024 until now. Almost two straight years it's been a better performing coin overall. It has a better structure overall, more positive, healthy structure. Um, so, yeah, that's why the context matters when you look at the difference in charts here.
So, and then, uh, Pulex, I'll break this one down and then, yeah, just let me know what you guys think. You have any questions more specific. I'll get more about, I'll get more into the micro analysis probably tomorrow or in two days once we see something fit. But yeah, this PEX chart is one big triangle. I mean, it's a huge triangle. This thing is has been coiling since Pulse Chain came out. It's a little funky. Kind of broke the structure there. But overall, just looking at it, you're getting these lower highs since it launched. You're getting these higher lows since it launched. It is coming to a time where it's eventually going to burst. And if the confirmations of Pulse and Hex, uh, confirming the, the, the bearish trend reversal are going to hold and confirming that, hey, Ethereum wants to set a new high fresh off the double top local highs the past year, year and a half. You can bank your money on, and it's not financial advice, but you can bank the money on that, hey, this thing's going to break up with those things because they're going to move together, right? Kind of just, we're here. We're, I feel like this is, we're early, right? We feel like we're early. We don't have the lowest prices that we can possibly get to accumulate, but I feel like we are early. Um, because, yeah, none of that's actually happened. But this thing is just building so much tension and pressure that once it bursts, it is going to, I don't, I mean, I have no idea how high this thing can go. But PEX is one of those dangerously, uh, volatile charts in a good way where when it wants to rip, it will rip and there's nothing that's going to stop it. So, um, but anyway, since we're in that triangular pattern, you still have the same sort of thing going on here. You have the low, the local low. You set a higher high. Now, let me delete this big triangle line because I don't put too many on here. But you have this downtrend starting from November 2024, right? So look at this. You have this downtrend, right? The wicks are feeling that. Everything I've just been talking about matters here. Okay? You find the low, you pump. Boom. The pump is respected by this downtrend. Next thing you want to see if you were looking at a reversal is the next low. Is it going to be a higher low? That's, that's the first thing you got to see to have any hope. Okay? You get the higher low here, right? Next thing, once you get the higher low, if you want to have belief that this could reverse, you break out of that moving resistance line, right? See that Pulse Ch or Pulse X breaks the resistance line, sets a new level, comes down and flips that resistance to a support line. We saw that in Pulse, we saw that in Hex, it's doing the same thing. So it finally broke and we're at this current moment, we're looking at an opportunity to set this moving downtrend from November 2024 into a structural support line, a diagonal support line to get that confirmation. If we set this bottom here and it ends up being a third in a row higher low, fresh off of flipping a resistance to a support line, you just need really one more confirmation to be like, it's happening. And that confirmation, like we said, you have to set a new high, right? So you get the lower, or the higher low, higher low, higher low. You need these highs to get higher and higher. And so if you get that reversal here, you get that support line sometime here in the future, in the next couple weeks, this thing decides to push up, you basically have that confirmation. This, this is a reversal of a bearish market. And that the grand scale ascending triangle is going to want to break up with it. And the, the thing you have here is the ascending triangle doesn't just go back off these lows. It goes back all the way to this low in 2023. So you're talking about two years plus, uh, well, yeah, about two years plus of structure where this current pattern we're looking at is based off of. So, yeah, there's a massive opportunity here.
So looking at all of this, I just want you guys to see the massive opportunity that's basically staring us in the face from a structural level. I know we invest because you get the fundamentals of what the coin is, what's the quality of the chain, the code, the coin that matters. But as an investor, you look at a chart, you want to see these things, right? If I'm, if I'm looking at a new coin, I'm wanting to trade it, invest my money into it, I want to see things like that. Like, okay, it's a bearish market. The price is low. Yeah, of course you want to buy it. But is, does the bear market still look weak or is the chart showing us signs of hope? Well, yeah, we're getting those signs of hope across the board. So, just want to share that little bit of perspective with you guys.
And then Helgo, this meme token, I hate calling it a meme because it's actually a legitimate token. Has a bunch of liquidity in it. It's, it's a be This is my favorite token. It really is, ladies and gentlemen. But we talked about filling this 10 range and, uh, price came down to our 10 range. Bounced right off of it. Uh, it's trying to do like a miniature reverse head and shoulders. I'm on the daily chart, but weekly chart, I mean, look at that triple top. We're coming back down to test that triple top. I mean, that's a beautiful setup for a trader or an investor just to kind of get their entry in there in that nine, that 85 to 1.0 range. Yeah. Um, not financial advice, but, um, this, this is a great looking chart. So, I like that chart. Just wanted to share that with you guys.
But, yeah, if you have any questions about anything, please reach out. Just wanted to give you guys more of a macro fresh perspective on this. And, um, yeah, reach out with any questions and I will do another stream here in the next probably day or two, probably two days from now, assuming nothing much changes, but I'll do more of a micro analysis. But really want you guys to look at the macro and have a good feeling about where we're at in this stage of the market. And don't be fooled by the lower prices and the volatility that we're currently experiencing. So, yeah, hope everyone's doing well. We'll chat soon.