Hypotheses are expectations or predictions that the reader forms about the text. They are formed before and after the reading. Proficient readers test and revise their hypotheses as they encounter and act upon new information in the text.
Predicting and forming/testing hypotheses are similar strategies. Predicting is a processing strategy and usually happens at the word, sentence or paragraph level. Forming and testing hypotheses involves deeper thinking about aspects of the whole text, such as a scientific concept or the development of a character.