As ETH takes full control of $3500, ETC is on a crazy run and it is very profitable to mine BTC at $40,000, I would like to present you Hive that is clearly in a downward channel. Hive needs to hold the 200 EMA and if it does not the probability of the 365 EMA increases. It makes sense, it will inflict the most pain on the retail investor, even those that bought at $4.75. Nothing is impossible in the markets especially in the TSXV, which is ran by funds and banks.
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6hr chart after todays price action
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Link to David Ward's most recent BTC analysis. He developed the Phoenix indicator and always worth a listen.
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The link to David Ward's analysis is just FYI and I do not necessarily agree with it but I do find everyone's research helpful.
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Bearish pressure persists, and if the red line breaks it will drop to one of those targets.