💥 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
Let's talk about Bitcoin: after the rebound beyond 60,000, it entered consolidation following its first drop below 69,400 yesterday.
Today, we can see that the 1-hour OBV and EMA are about to form a death cross;
At the same time, the 4-hour MACD is also about to form a death cross.
The bulls are hanging by a thread, with 68,300 as the latest support. Hopefully, there will be a rally here; otherwise, 66,000 is inevitable.