HBAR / USD - Showing Good Chance to go Parabolic
Updated
HBAR / USD has formed a strong parallel uptrend and it keeps making attempts to break up and out of that trend. Recall that, the more knocks at the door, the better chance at breaking through that door. This is usually said about getting past a resistance (or support), but also applies with parallel channels.
That said, its absolutely possible that we can test the bottom of our channel again before seeing a move up and out.
BTC pair looks even stronger after double-bottoming on the all-time chart and moving back up. We're not even halfway to our old highs vs BTC and may have a shot at breaking it. Should either of those two things occur, the USD price of HBAR could easily do 2-5x from here.
On the chance we move back down and revisit bottom again against BTC, that would give us a triple bottom and send us even higher than expected now. In case you haven't noticed, i'm super bullish on HBAR.
Channel drawn based on 30 min line chart, and then viewed above on daily candle:
That said, its absolutely possible that we can test the bottom of our channel again before seeing a move up and out.
BTC pair looks even stronger after double-bottoming on the all-time chart and moving back up. We're not even halfway to our old highs vs BTC and may have a shot at breaking it. Should either of those two things occur, the USD price of HBAR could easily do 2-5x from here.
On the chance we move back down and revisit bottom again against BTC, that would give us a triple bottom and send us even higher than expected now. In case you haven't noticed, i'm super bullish on HBAR.
Channel drawn based on 30 min line chart, and then viewed above on daily candle:
Note
We've broken through our channel - channel displayed above is on logarithmic chart, so it's a logarithmic channel, breaking up and out of a logarithmic pattern is a strong sign of growth.Possible Targets from here if continuation occurs: 24.5, 29.5, 33.5, 44 cents - and higher.
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.