💥 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
Must open short positions
From the 4-hour structure, after a rebound, the price has returned below the middle Bollinger Band, indicating a generally weak and oscillating pattern. The middle band around 69,000 is forming resistance, and the upper band moving down suggests the trend has not truly strengthened. Support below is concentrated around 66,000; if broken, a further decline to previous lows cannot be ruled out.
The current rhythm is a retracement phase after a weak rebound, with insufficient bullish continuation.
Intraday trading strategy
Monitor the resistance around 68,500 to 69,000 during the rebound; prioritize shorting
Watch the support at 66,000 below; if broken, look at the 64,500 to 63,000 range
If the price firmly stays above 69,000, be cautious with short positions; short-term may shift to oscillation and correction
Overall, maintain a rebound and short-selling approach; quick in and out, control position size, avoid chasing orders
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