Signs of an Impending Move for Hedera vs. Bitcoin
Around June 19th, we broke out of a daily falling wedge (shown above), and again around end of July we broke out of a weekly falling wedge (not shown). Since then Hedera has started a pattern of consolidation within a very tight range, just above support, and below resistance. Measured wedge targets take us right at previous ATH (candle close), and a more liberal 2X target takes us above our all-time highest wick.
Each of these provide confluence that Hedera is gearing up for a move.
So, look for us to break out of the small range that we've been in for the last several weeks.
And, even if that becomes a break below the consolidation range before it breaks above, it could still act as a fulcrum for pivoting to a significant move up.
What we don't want to see is a loss of support (green box) that holds.
Each of these provide confluence that Hedera is gearing up for a move.
So, look for us to break out of the small range that we've been in for the last several weeks.
And, even if that becomes a break below the consolidation range before it breaks above, it could still act as a fulcrum for pivoting to a significant move up.
What we don't want to see is a loss of support (green box) that holds.