HBAR / BTC - Successful Re-test of Weekly Breakout
Back in early -> mid September, HBAR broke out and tapped 1200 sats and then quickly corrected back to re-test it's weekly break-out trend. Bitcoin and most alts are doing the same on HTF charts, most on weekly while TOTAL crypto MC appears to be doing the same on monthly.
HBAR is among some of the first to react at this area, appearing strong and unable to reach its trend, only wicking down to this level and then a strong reaction pushing back upwards.
There was also the potential for a double top on the LTF, which brought us down to 492, but with the reaction mentioned above we failed our double top and got back above 567. At this point, if we stay above 567, we should see 720. Get and stay above 720 and our failed double top on the LTF has us heading back towards our previous ATH (prior to 1200) @ around 864 (target on the chart is 874).
If we can manage to get above 864 again and hold, we're likely to revisit our highs and potentially break above them.
Meanwhile, look out for a possible re-test of the area around 567 if we turn down momentarily. Again, if we stay above 567, HBAR should see continue moving up, above 720 a much stronger move starts becoming possible.
HBAR is among some of the first to react at this area, appearing strong and unable to reach its trend, only wicking down to this level and then a strong reaction pushing back upwards.
There was also the potential for a double top on the LTF, which brought us down to 492, but with the reaction mentioned above we failed our double top and got back above 567. At this point, if we stay above 567, we should see 720. Get and stay above 720 and our failed double top on the LTF has us heading back towards our previous ATH (prior to 1200) @ around 864 (target on the chart is 874).
If we can manage to get above 864 again and hold, we're likely to revisit our highs and potentially break above them.
Meanwhile, look out for a possible re-test of the area around 567 if we turn down momentarily. Again, if we stay above 567, HBAR should see continue moving up, above 720 a much stronger move starts becoming possible.
I think bouncing between 720 & 567 is more likely if BTC / USD weekly reacts in the same way HBAR did at the top of its weekly breakout re-test here, but still possible we continue up either way: