💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
#NFPBeatsExpectations
US Non-Farm Payrolls (NFP) data exceeded expectations! 😊 130,000 new jobs were added in January, while the unemployment rate fell to 4.3%. Average hourly earnings also increased by 0.4%. This data may postpone expectations of a Fed interest rate cut.
*Impacts:
- *USD Strengthens*: The US dollar gained strength with the strong employment data.
- *Gold*: Gold prices are under pressure due to the strengthening USD.
- *Cryptocurrency*: Bitcoin experienced volatility after the NFP data.
Markets are now watching the Fed's interest rate policy and future economic data. 😊
$BTC