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HBAR/USDT under the microscope 🔍 - Update on the dip-buying opportunity [SPOT only]
📈 Technical overview:
• Price action: Excellent sideways consolidation above the recent low of 0.06601, with the current price trading at 0.06792. A confirmed bullish breakout requires the price to hold and close above the nearby resistance level at 0.06874.
• Indicators (RSI & MACD): Downward momentum on the MACD has declined noticeably and steadily, with its lines nearing a reversal. Meanwhile, the RSI remains stable in consolidation at 41.83, confirming that a potential rebound wave may be taking shape soon.
🎯 Strategic trading plan (staggered entries):
• Buy (Stage 1): Enter with a small portion at the current price of 0.06792 to take advantage of the current consolidation phase.
• Buy (Stage 2): Add to the position with limit orders at the nearby support level of 0.06601, or after a confirmed breakout above 0.06874.
• Target 1: 0.07177 🔥 (Expected profit: +5.6%) - [Probability of being reached: 85%]
• Target 2: 0.07701 🔥 (Expected profit: +13.3%) - [Probability of being reached: 60%]
• Target 3 (ambitious): 0.08200 🔥 (Expected profit: +20.7%) - [Probability of being reached: 40%]
• Strict stop-loss: A break below the recent low and a 4-hour candle close below 0.06500.
💡 Sticking to risk management, allocating your capital in portions, and being patient are the keys to staying in the market and succeeding.
$HBAR #HBAR #Hedera #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $HBAR
HBAR/USDT under the microscope 🔍 - Update on the dip-buying opportunity [SPOT only]
📈 Technical overview:
• Price action: Excellent sideways consolidation above the recent low of 0.06601, with the current price trading at 0.06792. A confirmed bullish breakout requires the price to hold and close above the nearby resistance level at 0.06874.
• Indicators (RSI & MACD): Downward momentum on the MACD has declined noticeably and steadily, with its lines nearing a reversal. Meanwhile, the RSI remains stable in consolidation at 41.83, confirming that a potential rebound wave may be taking shape soon.
🎯 Strategic trading plan (staggered entries):
• Buy (Stage 1): Enter with a small portion at the current price of 0.06792 to take advantage of the current consolidation phase.
• Buy (Stage 2): Add to the position with limit orders at the nearby support level of 0.06601, or after a confirmed breakout above 0.06874.
• Target 1: 0.07177 🔥 (Expected profit: +5.6%) - [Probability of being reached: 85%]
• Target 2: 0.07701 🔥 (Expected profit: +13.3%) - [Probability of being reached: 60%]
• Target 3 (ambitious): 0.08200 🔥 (Expected profit: +20.7%) - [Probability of being reached: 40%]
• Strict stop-loss: A break below the recent low and a 4-hour candle close below 0.06500.
💡 Sticking to risk management, allocating your capital in portions, and being patient are the keys to staying in the market and succeeding.
$HBAR #HBAR #Hedera #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $HBAR
