💥 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
Data from Alphractal shows: the crypto market sentiment is at its most negative point since April.
This indicator has an accurate track record every time its color changes to orange or red, in more than 90% of cases indicating that the price is close to the local bottom.
So this could be the "tired first" phase before bouncing back.
But yes, as usual: the market is irrational longer than we think.
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