This One Weird Chart Pattern Has Bitcoin Maximalists in a Sweat 😱

Whispers and Rumors in the Crypto Market:

Bitcoin Cash (BCH) has kicked down the door of its triangle pattern versus bitcoin, suggesting a bull run’s ghost is wandering about.
The BCH/BTC ratio—like a bureaucrat peeking over endless paperwork—surpassed the 200-day simple moving average.
The HYPE token’s RSI shows bearish divergence, so now the chart looks gloomier than a Petersburg morning.

Daily technical musing by Omkar Godbole, who counts numbers for a living at CoinDesk and is a Chartered Market Technician (which is to say, he’s certified to squint gravely at squiggly lines).

So, Bitcoin Cash—the coin with the sort of vibrancy you find at a provincial ball—has become the belle of the top 100 cryptos over the past 24 hours. A bull run seems as inevitable as a tax collector after payday.

Why? The BCH/BTC trading pair on Bitstamp has leapt nobly from its triangle pattern—a formation made of descending highs and ascending lows, in the way only financial markets know how to narrow before exploding open like a bureaucrat’s overfed wallet.

As everyone from your babushka to Wall Street will tell you, breakouts from such patterns might lead to boisterous movements. BCH might gallop into a bull run, trampling over doubters with the grace of a provincial horse pulling a cart of questionable potatoes.

Fueling the circus is the spectacle of the ratio already towering above the 200-day moving average, a trend watched by everyone from red-faced retail traders to sleep-deprived institutional suits.

The journey upward may find itself stuck in traffic at 0.00467, a stubborn swing low from February 2024, before potentially getting lost near the December high of 0.00636.

If BCH slips below the monthly low of 0.00373, then the soothsayers might just skulk away and look for meaning in a bowl of borscht instead.

HYPE’s Melancholy Waltz

Meanwhile, the HYPE token—deployed with as much subtlety as a drunken cossack onto Hyperliquid—has performed a fivefold rally to $44 in three months. It then proceeded to look at its reflection and realize perhaps it had overindulged.

On the daily chart, while HYPE hits dizzying new highs, the 14-day relative strength starts to taper off, like a Petersburg government clerk on a Monday morning. Yes, classic negative divergence: momentum is fading, and so too may the price, probably after some poetically unjust timing. 🍷

2025-06-17 15:26

Whispers and Rumors in the Crypto Market:

HYPE’s Melancholy Waltz

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