An inverted cup & handle for Hedera
Updated
Yesterday I had mentioned about an inverted cup forming, but the selling move extended and price got demand from an obvious demand zone. However, the demand didn't seem to be enough to move price further that the zone was visited again. This made me think that the inverted cup may be extended and a handle might form until the test of broken rising channel. If this happens we might quickly see $0.06 again. To be honest, I don't believe this will happen and don't want to, especially when everybody is waiting for good news, use cases and new GC members. However, we shouldn't let our emotions cover what's in front of our eyes. I will update this idea over time.
Note
OK, the fall is harsh. I don't expect a retracement back to the channel for now. We have support at around $0.077 and an untested resistance into support level at $0.068. Let's hope it doesn't fall below these.
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