💥 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
China 🇨🇳 Time: February 9th, 12:10 AM, ETH Strategy
The main trend is still bearish; go with the flow and avoid going against the trend.
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Breakthrough resistance level: continue upward to test the next resistance level
Fall below support level: continue downward to test the next support level
【Pin insertion to sweep liquidity, not considered a breakout or breakdown】
Recommended short positions: 2140—2160 (45% breakout probability)
First resistance level: 2185—2200 (35% breakout probability)
Second resistance level: 2280—2300 (10% breakout probability)
↕↔↕
First support level: 2040—2060 (55% breakdown probability)
Second support level: 2000—2020 (40% breakdown probability)
Third support level: 1850—1870 (15% breakdown probability)
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