HBAR Breakout ImminentHBARBTC has been consolidating in a falling wedge over the past 2 months, retracing nearly 36% from its prior rally (as of May 10).
This consolidation pattern corresponds to wave (iv) (corrective) of an 12345 impulse structure, so I expect HBAR to rally to new highs upon breaking out.
The On-balance volume and MACD DEMA are exibiting positive (bullish) divergence, while the RSI is exibiting hidden divergence.
Furthermore, the Stochastic and Sotchastic RSI are oversold and about to cross bullish. The last time this happened, HBAR rallied nearly 30% over the span of 7 days.
HBARBTC trade ideas
HBAR / BTC - Alternate Idea: First Bearish, Then BullishI need to predicate this with the fact that I'm actually super bullish on HBAR, and most of my ideas are based on its bullish momentum having more immediate continuation. That said, I sometimes try to come up with alternative theories that oppose my own presuppositions, and that is what this is here.
So, let's take a look at HBAR from a different perspective than my typical posts, and we'll look at its monthly chart instead of the weekly, daily, or lower timeframes:
The highs from March 2020 (last year) are now just wicks because they were never able to close nearly as high as it rose on the weekly or daily charts.
Taking this into account, you could start to consider that an inverse head and shoulders pattern is beginning to take shape on our monthly here. It remains bullish overall, but goes against what myself and many of its fans and followers are expecting - which is the completion of a bull flag on the daily (see linked chart below) with much more immediate bullish movement to a new all time high. In the scenario instead, an HSi forms here, and we see bearish movement in the near term first. This acts as a bit of a shake out while longer term holders take profits, and when its done, then we shoot for a test of previous highs and a new all-time high.
Something like this could occur with the BTC pairing if bitcoin begins to move up again finding yet another new ATH.
So, instead of seeing a more immediate alt season, our alts still gain in dollar value but lose vs. BTC for a while again first.
That would also give BTC dominance a chance for some relief in its downtrend since we went sideways and saw our ETH move. It would also build further momentum for a stronger alt season than having one that occurs more immediately.
Just a different take, I'm probably wrong but felt like sharing anyways, cheers and thanks for listening. :)
HBAR / BTC - Beautiful Bull Flag FormationMay drag out further than shown above, but looks like we're gearing up to break through all-time high (top two yellow lines and area in between). Monthly + Local support is green rectangle, Local resistance is red one.
This was our 2nd major move up after double-bottoming on the all-time chart, we should expect a third and it should be one of the larger of the moves. A break below monthly support invalidates this idea.
HBAR/BTC Confirming my outlook?I originally posted an idea about HBAR/BTC possibly seeing all-time-highs in the near future.
I said that I would be watching for the 0.00000575 level, and at the time of me posting my other idea it was in the 0.00000540 range.
Currently, it stands at 0.00000550, with no signs of stopping. I am still watching for the 0.00000575 level for confirmation/entry, but I believe we are setting up for a beautiful upside with the current levels as support.
What do you think?
HBAR/BTC Breakout Coming?Hedera Hashgraph (HBAR) has massive potential against BTC in the coming days/week. Its ATH versus BTC is around 0.00000850 BTC for 1 HBAR.
It currently stands at 0.00000540. However, based on a wedge that has been building up in this pair, we could soon see it around 0.00000600 HBAR/ BTC , with no upside limit after it breaks out of this channel. I cannot post images as my account is new :(
I am watching to see if it breaks 0.00000575.
Let me know what you think!
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HBAR/BTC TA update and 100% potential from here#HBAR/BTC TA Update:-
#HBAR currently trading at 566 Satoshi
And strong support at 540 Satoshi
Entry:- 540-565 Satoshi
Targets:- 721/1153 Satoshi
Stop Loss:- If 4H candle below 520 Sat
Support:- 540 Satoshi
Resistance:- 721 Satoshi
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