💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
2.10 Morning Bitcoin Strategy
Based on the current market trend, the key resistance is concentrated around 71,000. The market has tested and attempted to push higher multiple times overnight but has failed to break through and stabilize, indicating significant selling pressure at this level. In the short term, a strong pullback and consolidation are likely. Be sure to manage your positions carefully and adopt a cautious approach.
The overall trading strategy today is to buy on dips.
Wait for the price to retrace to the 69,000–68,000 range, and consider gradually adding to long positions. If it breaks below 68,000, look towards 66,000 and below.
The first target on the upside is 71,000. If a successful breakout and stabilization occur, continue to aim for the 72,000–73,000 region.
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