Hedera (HBAR) Life Cross, not what you think
A Life Cross has printed on the above 6 day chart after an explosive 700% rally.
A Life cross is often seen as a positive development for fans of moving averages. However a word of caution is advised, moving averages do not inform about the future, they inform you only of what has been.
A number of reasons now exist to be bearish on HBAR, they include:
1) Past RSI support confirms resistance.
2) Price action is at monthly resistance. Look left.
3) Regular bearish divergence. Just as before look left, you think this time is different?
4) All tradingview.com ideas are long:
HHBARUSDT/SKYLP
This will be the only short idea you’ll be reading tonight. Remember the the 90% are here to lose money, are you?
Is it possible for price action to continue up after 700%? Sure.
Is it probable? No.
Ww
A Life cross is often seen as a positive development for fans of moving averages. However a word of caution is advised, moving averages do not inform about the future, they inform you only of what has been.
A number of reasons now exist to be bearish on HBAR, they include:
1) Past RSI support confirms resistance.
2) Price action is at monthly resistance. Look left.
3) Regular bearish divergence. Just as before look left, you think this time is different?
4) All tradingview.com ideas are long:
HHBARUSDT/SKYLP
This will be the only short idea you’ll be reading tonight. Remember the the 90% are here to lose money, are you?
Is it possible for price action to continue up after 700%? Sure.
Is it probable? No.
Ww
Trade active
Resistance confirmed.
Many comments below are a perfect example of why emotion and money won does not result in money kept.
Note
The red arrow, shortly after the sell signal print. Very cool.
Is it possible price go up? Sure.
Is it p-r-o-b-a-b-l-e ?? Pigs will fly first.
Note
The first target for this idea is 12 cents, or 60% correction from publication.Note
price action wicks to 18 cents... a 46% correction from publication.Note
A few asks if it is now a buy.
No, it isn't. Wait for 10 cents first. Then months of sideways consolidation, look left at the last long signal.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.