HBAR/BTC (Next Support at 200s Sat?)💎Technical Analysis Summary💎
BINANCE: HBARBTC
-HBAR is still on a strong downtrend after breaking its support
-If you are looking for a potential buying area or support
-The range between 212-190s sat might hold some potential
-Though this zone is only a minor consolidation
-But it was the start of a strong pump last Feb 12, 2020
-Wait for any bullish reaction before entering your trade
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HBARBTC
HBAR / BTC - Hedera Hashgraph at a turning pointWe've had a recent shift in movement in HBAR, chart suggests we'll reach somewhere just below 450.
Note - I actually expected this to go back to bottom again before moving up, which is still certainly possible, but if we break above this channel, the monthly does look like a giant bull flag and this thing could really see some movement. We've had quite a few extended fake breakdowns before seeing real movement in HBAR. The tech behind this coin is different than everything else out there and no matter what happens I feel like its worth following long-term.
HBAR/BTC (Trading Downtrend)💎Technical Analysis Summary💎
BINANCE: HBARBTC
-Hedera Hashgrap is perfectly trading on a downtrend channel
-If the Bears can keep the price going down
-The chances of testing the key area of support at 248 sat is high
-Please do not try to catch the bottom
-Wait for proper confirmation or reversal patterns
-Let the price come to you and patiently wait for the correct entry
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Please Exercise Risk Management
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HBAR / USD - Two Possible ScenariosBearish - a break below the wedge may head further down, and if we break below the horizontal line, we've confirmed a double-top and may revisit all time lows.
Bullish - if we stay within the wedge, above the area being tested now, a return to all-time highs or higher is possible
Side note - a triple top is another bearish scenario that could possibly play out if all-time high is reached again and strongly rejected.
The USD pair for HBAR has been easier to chart than the BTC pair, which is not typical for altcoins, outside of the top 5-10.
HBAR / BTC - Update: Make or Break Time for HBARHBAR has returned to major support area (between 350-380 sats roughly).
- If we break and close with a daily candle below the green box, HBAR is likely to move further down
- For it to be bullish, we need to get back above the bottom of the yellow triangle (approx 397-400 sats)
In the bearish scenario, it's possible a short-term bullish move occurs that takes us back up to 400 area to re-test the bottom of the yellow wedge.
In the bullish scenario, the same thing could occur, but we would need to break above the wedge, and then re-test it, or hit the bottom, go down, and on re-test break through.
NOTE - typically a wedge like this breaks down after multiple tests of the flat bottom (but there's also a possibility this is a symmetrical triangle, which is why i drew both)
NOTE 2 - our lowest low in this wedge was around 332 (near the beginning), it's also possible we hit that low again before breaking back up, so be careful, I prefer not going lower than 350.
HBAR / USD - **Update - Part II** Bullish Cup and HandleHBAR is re-testing the top of the long-term triangle here.
We need a big bounce here or this whole setup is invalidated.
Bearish idea - Take a look at the BTC pair, it ended at the top of a giant parallel channel that is in a downtrend, will update with a pic.
HBAR consolidation coming to a close? If you like my TA or other ideas, please leave a like to show support. It helps me out a lot
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HBAR has been consolidation for over four months and is now showing signs of bullishness
If we see a breakout of this symmetrical triangle with a nice amount of volume, we could see a rally to the levels on the chart.
MACD is also curling up towards bull territory.
Watch this one closely!
HBAR / BTC - Alternate Idea: Double-Top + Continued CorrectionI've been bullish on HBAR with my other published charts. Here's an alternative idea:
We have been in a downward channel since the Google pump ended after we hit our most recent high.
We recently re-tested 500 area after a recovery from 350-370s. This idea predicts we tap near or at 500 one more time, at the top of the channel listed above. A conservative target would be 493-495, possibly in 480s.
After reaching the target, we will correct back towards all-time lows before heading up to new heights.
Sell @ 493-495 (give or take 10 sats)
Buy back @ 114-122 (give or take 10 sats)
HBAR / BTC - 4H Update - Bull Flag approaching decisionLiftoff possibly imminent, and imminent CB listing announcement rumors floating around (HBAR has been under consideration for CB Custody since April 2018, reiterated by them a couple weeks ago along with other coins).
Beware of bitcoin, prepare for all scenarios.
Weekly resistance is around 454 sats, Daily is much higher - most recent resistance was around 500, then 537ish, then 600-800s.
Support 347-370s