💥 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
Is it only going up because it can't go down? What's next for Bitcoin and Ethereum? Don't worry, let's take a look.
1. Currently, both bulls and bears are cautiously testing their respective bottom lines: support at 65,000 and resistance at 71,500. Now that Bitcoin is rebounding from 65,000, where could it go?
2. Actually, the rebound from 68,000 has already been quite significant. If you entered long positions earlier, you can take partial profits on the rally, and when approaching the 70,000 mark, you should close all positions. If it reaches near 71,500, we can consider shorting again.
3. The better exit points for #非农数据大超预期 ETH are around 2000 and 2050. To short again, it's safer to do so near the previous high at 2150, which is a strong resistance.
4. Since we are in a bear market, our trading must be very cautious. Avoiding losses is crucial, and focus only on strong support and resistance levels for long and short positions. Every extra dollar earned during the bear market from bottom-fishing spot positions can turn into 5x or even 15x gains in the bull market.