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HBAR as a Good Example of Common Patterns & Measured MovesHBAR presents a good example of how simple market pattern trading using measured moves still work quite well. As these are moves in crypto, the measured targets exceed recommended lengths for a typical pattern trade, yet still line up quite well in continuing to use the same measurements beyond 1x -> 1.5 or 2x. First, a parallel channel containing a double-bottom, saw a nearly 4x measured move up on the weekly. Its highest wick, breaking 4x. Then a rising wedge that could also be called a double-top, worked out for a nearly 2.5x measured move down back into weekly support; stopping inches above the stronger area of support near the bottom. Also, if you look at HBAR's most recent weekly highs, they stopped right around the 1x measured target of the upward move, and is now pushing on the 1.5x measured target of the downward move. Both measurements are still providing direction on where price might make pit-stops.
BINANCE:HBARUSDEducation
by dudebruhwhoa