HBAR long-term Cup & Handle pattern on the daily chart.

MetaShackle Updated   
This is an expanded version of the previous HBAR cup & handle chart I posted. This one includes a date moniker, and an expanded u-shape to help judge the overall time frame involved, assuming the chart pattern plays out.

Here's a closer look at the formation currently taking place within the handle. There's easily another 7 to 10 days worth of space within the handle that could be occupied before it decides to move one way or the other. Watching this handle formation could really aid in determining whether or not a breakout is plausible, or if the formation will fail and play out in a bearish fashion.

Keep in mind that the price could drop below the lower trend line in the handle if it works out to be more of a descending wedge, rather that a triangular pattern. If that's the case, we could see the price drop down to the .064 0 .065 level before it bounces. Market Maker's generally like to drag price slightly above, or below patterns that the average trader would use as an entry to trap them in a trade going in the wrong direction. This also provides them liquidity for their trades which are much larger than the trades average investors are making. For example, if it did drop below the bottom trend line, and average investors opened short positions by selling shares into the market, the Market Maker's would then buy these extra shares to drive the price upward in their newly established long positions, leaving the average investor stuck in the trade, and likely to get liquidated when the price moves upward, completely wiping out the average investor's account, to which the MM's would completely absorb that account.


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