HBAR / BTC Weekly Parallels, Potential Targets, Dec Week 1 or 2
Was playing around with a new idea for HBAR / BTC weekly chart here and decided to share:
HBAR has been in two different parallel channels on the weekly:
Red Parallel: started with our first move up, has weakened but still wicked to the top of the channel and hasn't yet broken below.
Purple Parallel: has held above our first move up, and has cleanly reached the top of the channel 3 times now, has yet to reach the bottom here (if it did that this week, it would be around 586 sats).
Assuming we stay at least within the purple channel, or even the red - potential targets for 3 weeks from now are drawn in white:
- Targets touching the red channel bottom, mid-point, and top are based on not dropping below the bottom of our red channel.
- Targets touching the purple channel bottom, mid-point, and top are based on not dropping below the bottom of our purple channel.
Invalidation of Idea:
Dropping and closing a weekly candle below both channels cancels this plan.
************************************************************************************************************************
Original / Related Ideas Based on a Long-term Double Bottom Pattern for HBAR are Linked Below
************************************************************************************************************************
HBAR has been in two different parallel channels on the weekly:
Red Parallel: started with our first move up, has weakened but still wicked to the top of the channel and hasn't yet broken below.
Purple Parallel: has held above our first move up, and has cleanly reached the top of the channel 3 times now, has yet to reach the bottom here (if it did that this week, it would be around 586 sats).
Assuming we stay at least within the purple channel, or even the red - potential targets for 3 weeks from now are drawn in white:
- Targets touching the red channel bottom, mid-point, and top are based on not dropping below the bottom of our red channel.
- Targets touching the purple channel bottom, mid-point, and top are based on not dropping below the bottom of our purple channel.
Invalidation of Idea:
Dropping and closing a weekly candle below both channels cancels this plan.
************************************************************************************************************************
Original / Related Ideas Based on a Long-term Double Bottom Pattern for HBAR are Linked Below
************************************************************************************************************************
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