$HYPE (1-D): BEARISH market structure shift, RISING WEDGE retest

HYPE is just looking like a disaster waiting to happen, I have been very bearish on it ever since AASTER stepped into the DEX game, you know that if you read my analyses regularly.

I called for a crash at $55-56 due to the RISING WEDGE accompanied by recurring RSI bear divergences. I even shorted it after the pattern's BREAKDOWN and that was WAVE A, which played out perfectly dropping a touch below the $40 mark.

Then we obviously had WAVE B (which in Elliot's Wave Theory is a 'dead cat bounce', in most cases). That pushed the price above $50 briefly, bull-trapped a lot of people, and gave us a bearish retest of the RISING WEDGE breakdown.

WAVE A also established a lower low, and if the WAVE B is complete (lower high!), then we can call it a BEARISH market structure.

So now it would be a WAVE C which is a proper correction with the initial target of $39.25 (huge amounts of LIQUIDATIONS below $40, see the attached heatmap). Other targets are: $31.7 and $20 (which is also the WEDGE breakdown target, coincidence?).

I'm trying hard to find some positives about the DAILY chart, there is literally nothing. Even the volumes have been falling like a stone from April (when #hype started its uptrend from $9.3). I call that BEARISH volume divergence.

I'm not even gonna go into the upcoming unlocks again, or the impact of #aster and its crazy volumes and revenues.

The DAILY is just a disaster, and I'm really tempted to hunt for a short here. Not on Sunday, though.

Patience💙👽