💥 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
Last night, the CPI data met expectations, and the market's anticipation of a rate cut in March heated up. Bitcoin took the opportunity to rally, which is like a bubble suddenly surfacing in the water—just a short-term slip-up, not a big fish.
This wave is only a rebound, not a reversal. The overall trend remains downward. The news can only stir the surface but can't change the overall direction. Don't shout 100,000 when it rises, or look for 40,000-50,000 when it falls. Chasing gains and selling on dips is the easiest way to get left behind.
Currently, Bitcoin faces resistance at 69,450. Consecutive upper shadows indicate heavy selling pressure, and the 70,000 level isn't easy to break. It is now oscillating between 69,450 and 68,608, and no clear direction is expected this Saturday.
$BTC Hold the neckline at 68,608; if it breaks, look at 67,509. If it breaks above 69,089, then consider 70,000. Trading should wait for the right-side signals.
$ETH Watch the support at 2,042 and resistance at 2,060. Breakouts or breakdowns should be traded accordingly.
Fishing requires waiting for a steady catch. When trading contracts, don't be greedy. Wait for clear signals to avoid getting caught in a trap.