💥 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
Bitcoin above, focus on liquidation around 67700-68200. Strong liquidation levels are around 69000-69500.
Below, focus on liquidation around 65500-65000, with strong liquidation levels around 64500-64000.
The overall market trend is downward. Watch for a breakout and stabilization around 67500. If broken, next resistance levels are around 68500 and 69500. Support levels below are around 66000 and 65000. If broken downward, watch for levels around 63500 and 61000. Currently, the overall market remains in a wide range of 65000-71000 with consolidation, with a dense trading zone around 68000-66000. Trading should primarily focus on shorting, with some long positions as a supplement. Pay attention to risk management, and take profits within the range to secure gains.