$HBAR/BTC 3D (Binance Margin) Triangle and trendlines breakdown
Hedera Hashgraph lost 50MA support then broke the ascending TLs down and is now back inside the symmetrical triangle.
We see two possible scenarios here:
1) Buyers are stepping in and that was the last sell-off before a new rally
2) Sellers just showed they are switching for Bitcoin and won't hesitate to do it again
Since we are holding long in Spot, let's hedge in Margin according to that second possibility!
Current Price= 0.00000526
Sell Entry = 0.00000528 - 0.00000560
Take Profit= 0.00000457 | 0.00000370 | 0.00000254
Stop Loss= 0.00000602
Risk/Reward= 1:1.5 | 1:2.073 | 1:5
Expected Profit= +31.98% | +63.98% | +106.62%
Possible Loss= -21.132%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 4 months
We see two possible scenarios here:
1) Buyers are stepping in and that was the last sell-off before a new rally
2) Sellers just showed they are switching for Bitcoin and won't hesitate to do it again
Since we are holding long in Spot, let's hedge in Margin according to that second possibility!
Current Price= 0.00000526
Sell Entry = 0.00000528 - 0.00000560
Take Profit= 0.00000457 | 0.00000370 | 0.00000254
Stop Loss= 0.00000602
Risk/Reward= 1:1.5 | 1:2.073 | 1:5
Expected Profit= +31.98% | +63.98% | +106.62%
Possible Loss= -21.132%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 4 months
Trade closed: stop reached
SL was hit with -21.13% (2x) and -1RHedera Hashgraph has regained 50MA support and has broken bullish back in September.
Then it retraced down to the demand zone and looks good for another bull-run now!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.