The Aftermath of PulseChain Main Net.

"The pain of war cannot exceed the woe of the aftermath." - LED ZEPPELIN

Anticipating the price action leading into the Fork

I made a tweet in early January of this year that anticipated the rise and eventual fall of the HEX price prior to the launch of PulseChain Main Net. The past 630 days of price action has been the culmination of a redistribution of epic proportions. This was truly death by 1,000 cuts.

As seemingly almost every member of the HEX community created a sacrifice phase for a ludicrous number of projects, the HEX price suffered and the long term believers were tested at their expense. Although the timing was slightly off, the outcome was not. Here is a Link to the tweet from January 8th, 2023 with annotated events that would cause this 2019 Bitcoin fractal to play out on the HEX price chart.

Retrospective Assessment of the PulseChain launch plan

Initially, the Launch format for PulseChain was nothing short of brilliant.

1. Launch the Main Net 666 Days after the PulseChain Sacrifice went Live.

2. Time the bridge launch and Clog the bridge to create an insane amount of hype and Fear Of Missing Out.

3. Create a PulseX contract that Bought and Burned over 4x the amount of PLSX than was originally intended.

4. Gradually roll out farms in a strategic way to encourage thicker Liquidity pools by driving the direction of economic activity on the network and adding incentive for participation.

5. Entice users to chase insanely high APR's on a rapidly rising INC price while also cementing the long term health of liquidity bonds on major pairs via compounded rewards.

This was a tremendously effective way to amass liquidity in the pools while also getting prices to move higher in the first few days as the bridge went live. Add a dash of FOMO and price hype and PulseChain quickly became the talk of the town, surpassing all but Ethereum in on-chain volume.

Heart's Law at work

You can see by the chart below how assets on PulseX move together by a function of their bonded liquidity. This is known as Heart's Law in HEXican circles and is a major factor in why the Buy and Burn of PLSX will be so powerful in bullish environments.

If you want to know more on the strategy and deeper context of this Law at work, please check out our Market Making Course available for purchase until Saturday at 11AM EST.

Trouble Brewing for the PulseChain ecosystem pricing

Two major factors are responsible for the formation of the local top. The biggest and most obvious one was the OKEX listing and allowing of deposits of PLS on their platform. In order to understand the reasons why a Centralized Exchange Listing is bearish, you must get inside the mind of a market maker.

A CEX such as OKEX was unlikely to have a large initial supply of the PLS ecosystem as it would have been a tremendous risk for them to be too heavily invested in it without any information. When OKEX announced it was accepting deposits on their platform they did it cleverly, near the second top on the PLS price chart.

A large firm like OKEX who is sitting on billions of dollars in stablecoins would much rather sell any initial holdings from the sacrifice at the top and then re-accumulate those plus any user deposited funds at a 70%-80% discount near the local lows. Any For-Profit entity like an exchange can't afford the risk of buying a top or letting price leave them behind without accumulating before a price expansion, and so that is why we see them bringing user funds in at the perfect time to harvest their users on the lows.

The second and less obvious warning sign was in the "un-cloggening" of the bridged-in liquidity from Ethereum. Once there were no users left to buy the highs on FOMO alone, the value extractors entered the market to take their share of any dollar value that was bridged in up to that point and either bridge it back across to Ethereum or sat on Stablecoins in anticipation of the lows.

The first shot across the bow was this massive sell down on PLS. A massive Red Candle engulfed the previous 18 candles and sent a powerful message to traders and analysts. It was the first sign of a coming reversal on prices across the ecosystem after an extended run.

The move happened a few days before the double top and OKEX listing and there was only about $15 million left in funds being bridged over to PulseChain. Wait times for a bridged transaction were reduced from 50-60 hours down to just 4-6 hours during this period.

See the chart below which monitors the inflows and outflows of liquidity across the bridge. The net flows of money have been negative since around the turn of the month, meaning value extractors were in control of the price action during this period.

Richard Heart speaks to pain

May 31st, 2023 Richard Heart issues a series of tweets reminding HEXicans that cryptocurrency is a highly volatile asset class. At the same time, HEX on the Ethereum blockchain hit new lows for the year.

There is a lesson here. If you can survive the most extreme pain, you will earn the right of maximum reward. Buy into the pain when its hardest to buy and win even harder.

HEX price action analysis

Part of being a disciplined and effective cryptocurrency "influencer" is knowing when to speak and when not to speak publicly about bearish outcomes. On April 22, 2023 I created some bearish fractal charts based on the perceived sell pressure from the most recent chainalysis and data provided by Silver the Antidote. It wasn't going to be pretty no matter how we chopped it up. Below is the chart created over two months ago that showed the potential trajectories for the asset.

If you haven't already, I would encourage you to watch Silver's recent video upload on his assessment of the RH Ecosystem. Watch it here. You won't find a better source of accuracy and truth on the matter.

The Ethereum HEX price has taken the hardest beating since the initial launch of the token in December of 2019. The chart below is based on the famous "Mayer Multiple" from Bitcoin evangelist Trace Mayer. The basis of the indicator is measuring the asset performance against the 200 day moving average.

Chart Courtesy: HEXFIRE.IO

The blue line on the bottom of the chart represents the price of HEX as indexed against the 200 day moving average. Times to buy are when the blue line is underneath the green dotted lined and times to sell are when the blue line is above the red dotted line. Currently, HEX is at the lowest ever registered reading of 0.15 on the MM.

This is a screaming opportunity for believers in the health and recovery of HEX on ETH.

In addition, we have some interesting data here on the combined eHEX + pHEX price chart. Several perfect patterns have played out on this chart in 2023. The year started with a textbook double bottom (triple bottom on small time frames).

That price action then led to a +600% rally on eHEX leading into PulseChain Testnet v3.

The testnet launch formed the "Head" portion of a head and shoulders reversal pattern. The left shoulder was formed by the banking crisis de-peg event of the stablecoin market such as USDC, DAI and others. The right shoulder formed before Mainnet even launched.

After the launch of main net, tons of sell pressure entered the market as users started to arbitrage opportunities and exit eHEX on the possibility of its demise. As users chased farming pools and shiny new objects on PulseChain, the combined HEXes' prices suffered after a near perfect double top (in red).

Chart Courtesy: https://hexcombined.anvil.app/

Now we are seeing a rally off of the 0.006 cent low on eHEX with some positive pressure also entering the PulseChain ecosystem and by the nature of Heart's Law, pull up all assets that are tied together by their liquidity pairings via the PulseX pools.

It is my belief that we are witnessing the bottom of the market. The death of the HEX price chart is almost over. The last of the sacrifice offerings are coming to a close and the hyper dilution of our market is soon to be history. We will now witness the ushering in of the Utility Phase of the PulseChain network. The successes or failures of contracts will rest on the shoulders of innovation and no longer the anticipation of what could be.

Launching the killer app for HEX on-boarding

Two days until the application that is capable of making HEX go viral launches! This is the most recent post from the team over at HEXSCOUT:

"#HEXscout is launching in under 2 days. Calling all HEXICANS - brace for what's coming, an obligation-free peek into an innovation worth your attention. Now presenting our free-to-access "What is HEXscout" one-pager: https://about.hexscout.com. There's nothing to lose but heaps to gain with HEX when HEXICANS discover the groundbreaking HEX onboarding tool!

HEXscout presents multiple unique wins for HEXICANS:

1. The premier comprehensive onboarding tool for HEX, addressing all main challenges with enticing tools and stepwise walkthroughs (a) Grasp HEX and staking in simple terms, b) Learn to buy HEX, c) Find your suited staking strategy, d) Discover how to stake).

2. The first-ever 100% HEX-centric front-end (zero risk of capital loss to third-party coins).

3. The debut HEX DApp-Frontend usable across all devices - Desktop, Mobile Responsive, iOS, Android (Registration-free yet sync-friendly).

4. The first HEX-Frontend integrating all HEX-Stakingtypes.

5. The first HEX-Frontend with potential mass market dominance due to polished usability and appealing design. And so much more...

Plus, all app features are 100% free! We've assembled the rocket, now it's time for HEXICANS to climb aboard. HEXscout is primed to spearhead HEX's viral journey in the upcoming bull market. Together, we'll ignite a green candle rally like HEX has never witnessed, as understanding and utilizing HEX has never been as seamless and enjoyable, thanks to HEXscout."

Favorable outcome for XRP will moonshot price and take crypto to new heights

The big question on everyone's mind is "What is going to spark the bull run this time?" Cryptocurrency as a whole has held up tremendously well in the face of all the SEC attacks on different exchanges and assets and overall regulatory uncertainty. One major plot twist has been the recent emergence of the Hinman Emails, which shine truth on the dirty tricks the SEC has been playing on the industry for the past few years. Deliberate and constant uncertainty on the regulatory front has snuffed out innovation, especially in the west, where there would otherwise be massive expansion and growth.

yourfriendSOMMI reports:

For this reason and the recent development's on the Ripple litigation, many are starting to wonder when a favorable outcome and subsequent re-listing of XRP on major exchanges will occur. In the event of such an outcome, we could see the price of XRP push over the $10 per unit price point and ignite an expansive bull run on newly defined regulatory clarity.

Even from a technical perspective the XRP price chart is primed and ready for a massive move after nearly 2,000 days of sideways accumulation. Will it be the catalyst that lights the rocket fuel for crypto? Or, will it be the perfectly timed approval of a 10 Trillion Dollar fund's Bitcoin ETF?? Either way, crypto is in a pressure cooker and prepped for a big move.

10 Trillion Dollar asset manager BlackRock files for Bitcoin ETF

Amidst all of the chaos in the cryptocurrency markets via attacks on Coinbase, Binance and Ripple by the SEC in recent months, one of the largest asset managers has been secretly securing their Bitcoin position strategy for the next bull market.

BlackRock has chosen Coinbase Custody as their custodial solution. The Fund will be benchmarked against price data from six exchanges:

• Coinbase

• Kraken

• Gemini

• Bitstamp

• itBit

• LMAX Digital

Oddly enough, the SEC is the regulatory body in charge of issuing ETF priveleges in the United States and has thus far rejected every application for a spot bitcoin ETF. Something definitely smells fishy with all of the external pressure on crypto coming from the same authority. The timing could not be more auspicious.

Risk on for the stock market?

This chart is a composite of four major U.S. Stock Indexes. The purpose of this chart is to be used on larger time frames such as Weekly, Monthly, or Yearly in order to gauge a general trend in the market and to find edge on major swing trades in from a broader perspective.

It is composed of:

• S&P 500

• Nasdaq

• Dow Jones Industrial

• Russell 2000

Check out this Bars Pattern. Although the cryptocurrency has paused since April, the stock markets have continued to soar higher. I anticipate one of two scenarios to occur for risk-on markets. Either A) the stock markets continue on to new highs and beyond or B) these markets form a double top at the local ALL-Time High and retrace back into the broadening Wedge before finding long term support.

In either case, the markets have now flipped bullish and investors should begin to speculate on new positions or opportunities for the coming years of growth.

So where is the Dollar in all of this?

The Dollar Currency Index is a measurement of the price of the U.S. Dollar against a basket of fiat currencies. The composition of this index is mostly weighted against the EURO. When Fiat currencies like the dollar fall in price, the prices of other asset classes like Stocks and Cryptocurrency have a tendency to rise. This is a statistical negative correlation.

• Euro (EUR), 57.6% weight

• Japanese yen (JPY), 13.6% weight

• Pound sterling (GBP), 11.9% weight

• Canadian dollar (CAD), 9.1% weight

• Swedish krona (SEK), 4.2% weight

• Swiss franc (CHF), 3.6% weight

The weekly DXY Chart is showing a sentiment divergence favoring the bears.

As mentioned in previous blog posts, the DXY culminated in a blow-off top last October and November. Price structure is attempting to hold above the 100 level and is now forming a descending triangle pattern. Larger and more frequent Red Bar prints will confirm this action on a successful break below 100 and a retest before resuming into the mid-90's range which also coincides with the middle of the rising channel (purple) which represents fifteen years of price history.

Descending Triangles have a higher probability of breaking down, especially in non-crypto markets. On longer time frames such as weekly or monthly candlestick charts, the strength of the move is even more powerful and probable to break down to the statistical conclusion. This would reinforce the moves happening in equities (stock market) and lead to a surge in cryptocurrency prices. MARKET MAKING BOOT CAMP

Join us this weekend for the Market Making Bootcamp where we will dive into the new concepts in PulseX and introduce some of the first information on the soon to be released Uniswap v4. There are only a few hours left to sign up, click here!

Things are starting to heat up for the risk markets.

Stay alert and best of luck in your investments and trading adventures.

-AXiS ALiVE