HBAR / BTC - Repeating Pattern: End of September Update
The larger pattern has continued to repeat the smaller one since suggested back in May this year -see "HBAR / BTC - Repeating Pattern Idea - Worst Case Bull Scenario" in the related links below for my original post.
We finally got our move up during the first half of the month, as suggested in the End of August update.
For the 2nd half of September we've been correcting. The larger pattern that this is a part of is a double bottom on the all-time chart. Our double bottom min target is somewhere between mid-13 to 1400s sats , or it could be as high as low to mid 1600s sats . So far, we've corrected down to areas of previous weekly and daily ATHs, but haven't yet tested our previous weekly top. If we see further correction, it may go down as far as ~708 sats . If we go lower than that, we may see a shake-out prior to beginning our last and largest move up.
If we continued to repeat, we'd likely have a 2nd stopping point somewhere at or above our min target, and then a final blow off top that may even revisit or break listing day highs in the mid 3000s.
Failure of the larger double bottom could lead to a triple bottom instead, though I think this is still unlikely, unless the larger market moves bearish and sees a massive correction.
Zoom in on what happened last time:
Zoom in on now:
See previous related ideas in the links below for more details.
We finally got our move up during the first half of the month, as suggested in the End of August update.
For the 2nd half of September we've been correcting. The larger pattern that this is a part of is a double bottom on the all-time chart. Our double bottom min target is somewhere between mid-13 to 1400s sats , or it could be as high as low to mid 1600s sats . So far, we've corrected down to areas of previous weekly and daily ATHs, but haven't yet tested our previous weekly top. If we see further correction, it may go down as far as ~708 sats . If we go lower than that, we may see a shake-out prior to beginning our last and largest move up.
If we continued to repeat, we'd likely have a 2nd stopping point somewhere at or above our min target, and then a final blow off top that may even revisit or break listing day highs in the mid 3000s.
Failure of the larger double bottom could lead to a triple bottom instead, though I think this is still unlikely, unless the larger market moves bearish and sees a massive correction.
Zoom in on what happened last time:
Zoom in on now:
See previous related ideas in the links below for more details.
Related Ideas
Close at or above 619 sats for tomorrow's weekly candle is important to indicate whether we have held our new support area (old resistance area), and should help to determine whether continuation is likely in the following weeks: