9-hr HBAR: Short-Term Base Formation and Fib Potential

Overview (9hr Timeframe):

• HBAR forming a short-term base.
  
• Breakout and retest of the descending trend line.
  
• Fisher crossing the zero line.
  
• RSI holding and gaining strength.
  

9hr Timeframe:

• HBAR Short-term Base: HBAR is currently consolidating, indicating a potential upward movement.
  
• Breakout Confirmation: We've seen a breakout and successful retest of the descending trend line from Aug 15, marked at 0.075.
  
• Fisher Indicator: The Fisher indicator crossing the zero line is a positive sign.
  
• RSI Strength: The RSI has held its ground, undergoing a retest and showing signs of gaining strength.
  

Fibonacci Analysis:

• Possible Bounce Levels: We could see a Fibonacci bounce up to the 0.236 level, followed by a potential rejection, and a further upward move to around 0.382, which would be approximately at 0.058~0.059.
  
• Challenge at 0.236 Fib: It's important to note that the 0.236 Fibonacci level presents a significant challenge, coinciding with the bear market support band.
  
• Ichimoku Cloud: This positive scenario aligns with an edge-to-edge Ichimoku cloud move.
  

Key Consideration:

• Volume Indicator: Keep a close eye on the volume. A sudden spike in volume could be a critical factor determining the outcome.
  

Please compare this chart with our next post on the 2-day chart.

PIK - Patience Is Key Analyst Team - EXMO Study[/I]