💥 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
11.30 Afternoon Silk Road Analysis
Operation Suggestions
BTC: Go long near 90500, targeting 101500.
ETH: Enter long around 2985, targeting 3085.
Yesterday's market has passed, there's no need to dwell on it; today's opportunities are right in front of you, don't worry unnecessarily; tomorrow's trends are yet to be determined, there's no need to fret. Whether it's a market you have not experienced, fluctuations you've already gone through, or the consolidation you are currently facing, just follow the rhythm steadily. Investing is like living life, every operation is an accumulation, daring to take action is always better than not trying, even if you face challenges, you gain experience, which is still better than being aimless.
The current market looks chaotic, with significant fluctuations on the hourly chart regardless of whether it's reaching new highs or new lows, indicating that both price ranges are unstable. After the price of the coin dropped to its lowest point in the early morning, it has already rebounded. This kind of pullback correction is something we anticipated before – although the rebound strength is not strong at the moment, there is still a chance to convert time into upward space, so BTC should primarily focus on going long.
Pay close attention to the position above 90000 for BTC. It has already broken through this level yesterday, and the current price is at a certain distance from this position, giving us more confidence in our operations. As the market slowly approaches the lower support level, good opportunities to go long will arise. Overall, today is a good day to enter long positions at lower prices, just don't chase after high prices.