Falling Wedge Targets Old Lows or Highs

BITTREX:HBARBTC   Hedera / Bitcoin
HBARBTC weekly bar chart has formed a falling wedge over the last couple of years, starting around September 2021 until now.

Bullish Scenario
A move to wedge top with a breakout would target the "Google Pump" era highs of March 2020, and with a potential secondary target at or above ATH.

To see a bullish breakout, it needs to hold the 150-160 sats area and break 247. Breaking 247 would both confirm a double bottom and a wedge break out.

Double bottom targets would send it on its way towards 395 and then 500 sats, which would be crucial to stay above to get the move back towards March 2020 highs, around 854-866.

Bearish Scenario
A move to wedge bottom would target pre "Google Pump" era lows of January 2020.

Should the 150-160 sats area be lost, it'll likely see another touch at wedge bottom near 115-120 sats and Jan 2020 lows.

If wedge bottom is lost we will likely revisit ATL and potentially make a new ATL.

Short-term Bear, Long-term Bull Scenario
If it gets the move back down to wedge bottom and the wedge holds up, those higher targets near ATH or higher become even more likely imho.

There's also a possibility for a double bottom at or just below 91 sats if wedge bottom is lost but no stronger move below 91.


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