💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
I'm a perma bull here.
Reason(s):
- $BTC hasn't gone below 76.6K (if it goes, there'll be no stop till 40Ks)
- 8+ weeks consolidation above 80K (greater the consolidation, greater the breakout)
- Bad news across the board globally
- Nobody is long
- Everybody is calling for 50K-65K
If this weekly closes above 88500 to be precise, this orange coin will blast till the remaining January.