HBAR / BTC - Breakout / Re-testing - Short-term gains
Quick chart for HBAR / BTC 30min time-frame:
-- Good chance to visit 721, may see slightly higher high ~775.
Two possibilities after that:
1.) touch previous all-time high around 817-867, or
2.) a double top here and a significant pullback into the low 400s.
At the moment, double top seems possible because prior to breaking out we were forming a wedge testing 530s, although larger timeframes indicate a new ATH is coming before we see any good pullback, and then continued new highs beyond that. See LINK comparison below.
Also, USD pairing formed a W on the 30min chart, broke-out, and is currently re-testing the top:
-- Good chance to visit 721, may see slightly higher high ~775.
Two possibilities after that:
1.) touch previous all-time high around 817-867, or
2.) a double top here and a significant pullback into the low 400s.
At the moment, double top seems possible because prior to breaking out we were forming a wedge testing 530s, although larger timeframes indicate a new ATH is coming before we see any good pullback, and then continued new highs beyond that. See LINK comparison below.
Also, USD pairing formed a W on the 30min chart, broke-out, and is currently re-testing the top:
