💥 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
Brazil's Sovereign Move
In a massive development today, Brazil's Congress reintroduced Bill 4501/2024, which proposes creating a Strategic Sovereign Bitcoin Reserve (RESBit).
The Goal: Brazil aims to acquire up to 1 million BTC to diversify its national reserves.
Impact: This move follows the "El Salvador model" but on a significantly larger scale, potentially positioning Bitcoin as a formal tool for national collateral (specifically for Brazil's digital currency, Drex).#GateSquare$50KRedPacketGiveaway
$BTC #GateSquare$50KRedPacketGiveaway