Hey guys, I was taking a look at Hbar at the request of @Inumaki | LPS and curious regarding Enicks 'Longing HBAR' comment.
First off, I'd like to mention that we're in a ROARING bull market so to me it's almost useless to do TA right now. The market as a whole is growing and people are buying for the sake of it, with no intent of using these currencies or even the knowledge of what they do. Not necessarily a bad thing, but by February or maybe March next year, ALL of these coins, including BTC/ETH and all the top dogs will be down roughly 30%, so IF you're planning on investing currently AND ARE NEW TO CRYPTO - DO NOT STAY IN LONG, OR DO NOT INVEST MORE THAN YOU ARE COMFORTABLE LOSING.
The market is good right now, but there are dangers ahead. Money to be made, but be safe.
Now to the post:
Hbar trading in a regression trend channel over a 90 day period - currently at the lowest point of RSI in those 90 days. As you can see marked on the chart that's a buy indicator with a target of 0.49c for the sell (Currently priced at 0.36c), which I'm expecting in EARLY December (A little over a week).
If you want to make a riskier play, follow the chart live (I will post an update each day in this channel, or you can follow the chart at my Tradingview.com/u/RetraVision) and wait for a BREAKOUT of the RSI channel. If we reach our .49c target, put a stop-loss at .44 and we can try an extend our gains to as HBAR will reach for another ATH if we break out of this regression trend (Expected ATH will be 0.65)
DISCLAIMER: I AM NOT INVESTED IN THIS CURRENCY, AS I DO NOT FUNDAMENTALLY VALUE IT ABOVE ITS COMPETITORS. THIS IS A SIMPLE TECHNICAL ANALYSIS TO ADVISE THOSE ALREADY INVESTED AS I DO NOT WANT TO SEE THEM GET BURNT.
First off, I'd like to mention that we're in a ROARING bull market so to me it's almost useless to do TA right now. The market as a whole is growing and people are buying for the sake of it, with no intent of using these currencies or even the knowledge of what they do. Not necessarily a bad thing, but by February or maybe March next year, ALL of these coins, including BTC/ETH and all the top dogs will be down roughly 30%, so IF you're planning on investing currently AND ARE NEW TO CRYPTO - DO NOT STAY IN LONG, OR DO NOT INVEST MORE THAN YOU ARE COMFORTABLE LOSING.
The market is good right now, but there are dangers ahead. Money to be made, but be safe.
Now to the post:
Hbar trading in a regression trend channel over a 90 day period - currently at the lowest point of RSI in those 90 days. As you can see marked on the chart that's a buy indicator with a target of 0.49c for the sell (Currently priced at 0.36c), which I'm expecting in EARLY December (A little over a week).
If you want to make a riskier play, follow the chart live (I will post an update each day in this channel, or you can follow the chart at my Tradingview.com/u/RetraVision) and wait for a BREAKOUT of the RSI channel. If we reach our .49c target, put a stop-loss at .44 and we can try an extend our gains to as HBAR will reach for another ATH if we break out of this regression trend (Expected ATH will be 0.65)
DISCLAIMER: I AM NOT INVESTED IN THIS CURRENCY, AS I DO NOT FUNDAMENTALLY VALUE IT ABOVE ITS COMPETITORS. THIS IS A SIMPLE TECHNICAL ANALYSIS TO ADVISE THOSE ALREADY INVESTED AS I DO NOT WANT TO SEE THEM GET BURNT.