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HBAR / BTC - Double Bottom Targets Chart

Long
OKEX:HBARBTC   Hedera Hashgraph/Bitcoin
Here's a weekly chart showing potential targets for HBAR / BTC after having double-bottomed.

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IMPORTANT NOTES
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Before we can start using this chart, we first need to get and stay above 847-864 sats (0.236 fib and previous daily ATH before it was breached).

If we don't manage to do that, a triple bottom becomes possible - so keep that in mind.

Also, note that this is an OkEX exchange chart which has a different weekly candle schedule than most exchanges, so it will look different than Binance or Bittrex, for example.

Also, the listing day ATH on Binance was 3573 sats , so if we actually revisit that area, it may go higher than what is seen on here with the high @ 3294. I'm simply using this one because it was a fresh chart with no prior drawings.

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TARGETS
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This chart shows two different potential TP 1 and 2's for our double bottom , indicated by the two different colored sets of two arrows (white - more conservative, yellow - more aggressive).

  • Conservative TP 1 = 1437 sats and a range around that and the 0.382 fib around 1315. A safe TP 1 might be something in between, like 1367 for example.
  • Conservative TP 2 = 2130 sats and a range around that and the 0.618 fib around 2070. Instead, we could also use the mid-point of TP 2 as a safer TP 2 which would be around 1786 sats

  • Aggresive TP 1 = 1637 sats and a range between that, our 0.5 fib of 1692, and our conservative TP 2's midpoint @ 1786. So, 1637-1786.
  • Aggresive TP 2 = 2438 sats , or a range between that and the 0.786 fib @ 2609.

Finally, if we can get above all of these, it's possible we re-visit or even breach our listing day high @ 3294 (3573 on most exchanges). Get above 3573, we go into a new area of price discovery .

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TRADING RANGES
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I like to pair our pattern targets with fibs for confluence, but also for estimating potential trading ranges.

So, we could also use the purple boxes, as well as the black areas in between them, around our targets and fib levels as potential trading ranges.