Adding another cryptocurrency to our portfolio, Hedera, or HBAR-USD. On the daily chart, following the last low at $0.0357, we've developed waves 1 and 2 and are now in wave 3. This wave is expected to reach between $0.14 and $0.27. The exact placement remains to be seen, but we'll definitely be looking for entries for our wave 4 afterward, planning to hold through wave 5. Given the fast pace of cryptocurrencies, we won't rush into minute or small hourly chart trades for now.
Note
For Hedera, it now appears we may have either exactly hit the 161.8% level, or there might still be room for further upward movement. We won't place a limit order just yet, as there should be significant weakness in the coming days before we decide to make a move. We don't want to have to adjust our position significantly upwards, so we're waiting to see how things unfold. If we see further decline, we'll place the limit order. However, there's relatively little room for maneuver since we're already close to the Wave 1 level and shouldn't ideally fall below the Wave 4 level too soon, suggesting that we expect some more upward movement to create space for a correction.
Note
You will find the limit order and follow up here ⤵️
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⚡ Join me when you're ready – over 550 are already there.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.