Possible Dips before a Move Up

11 Jul 2023

This is a 4h view of the daily chart, which has already broken out of a falling wedge. That breakout has created a smaller falling wedge as it has re-tested the top of the daily wedge multiple times since breaking above it.

Following its initial breakout, it formed and inverted head and shoulders, and looked ready for a bullish move up. That pattern failed and we've since moved down to the failed HSi's TP1.

From here, if there are any further dips and we don't just break out of the smaller wedge, I expect we'll do something like what is shown above:

• Option 1 - A symmetrical right shoulder that drops down to around 4.5 cents and then moves up
  
• Option 2 - Continuation of the inverted HS and a move down to its TP 2, for a final re-test at the top of the daily wedge, and then a move up
  

Here's a zoom out to the daily chart and the larger wedge break:



See related idea in the link below.

11 Jul 2023

Nota

Typically we do the opposite of DXY, which has already moved down. This is why I'm expecting a move up, whether or not we get a dip first and we may not:

11 Jul 2023

Nota

Here's the same chart as above, but zoomed in, with DXY shown at the bottom in blue and HBAR above it in orange. DXY has a 4h rising wedge breakdown that has already reached my TP 1. HBAR has a falling wedge yet to break out:

12 Jul 2023

Nota

Update - as DXY moves down, HBAR moves up, as suggested: