Jumping right in
Getting in I would consider right now at this 17cent mark because of previous rejection since the middle of June showing this to be a heavy level of support. HBAR seems to be finding a floor here but could fall as low as 10cents in the next month if the current downtrend continues- 10cent derived from the support angle on the bottom side of the down move.
I am setting a ladder limit to separate and spread my entries evenly between 17cents and 10cents, and Ill check in and see which ones get picked up over the next month or so (Not Trading Advice). I believe this to be a good decision based on the recent support levels shown by the charts, as well as the potential of HBAR to expand into everyday life with smart contracts that assist in transactions in real time. HBAR claims to have the ability to cut out the middlemen with a simple level of programming that can be used on almost any device.
Is HBAR Fibbing? (down a Fibonacci .618 from ATH March 15 $0.449)
HBAR has had significant trouble getting through the 40 cent mark since its first bull run in early March.. Each time HBAR drives up it hits the same 40cent ceiling and pulls back. To relate that to trading- the 40cent mark becomes a great place to have a Limit order to scale out of my position if HBAR makes another push up. Scaling out in this case would mean taking profit where the market shows me it has turned 4 separate times between march and May, while still holding onto some of my position in case HBAR does indeed continue to new all time highs after reaching that level.
Another place i will look to scale out of HBAR is near the 25cent mark. Roughly halfway back to the all time high and a key level of support/resistance. The market would much more easily return to the comfort level around 0.25 than anything else right now the way i see it.
It's important to note that I do not make decisions for any other traders. I'd rather share what I see and what has helped me in a way that helps others to make decisions for themselves in the market. I was never good at being told what to do without an understanding of why. - T
Hedera claims to be built and centered on Trust
For distributed ledgers to go mainstream they need to understand the challenges of speed, security, stability, governance. Hedera seeks to address all of these on a public ledger with the "underlying hashgraph consensus algorithm that offers speed and scalability, fair ordering, and best-in-class security for mission-critical applications."
Blockchain systems are about trust, and Hedera aims to set the standard for trust.
Hedera governing council- Hedera seeks to establish a truly decentralized governance model. the Hedera group is an elected group of organizations committed to supporting development and growth of the Hedera network. A few of the companies include- Boeing, Google, IBM, and LG. Their responsibilities include- hosting and maintaining initial network nodes, establishing a governance framework for global markets, overseeing the software run by thousands of nodes at scale, and for the overall direction of the hedera platform's codebase.
"The Hedera Governing Council consists of up to 39 term-limited and highly diversified organizations and enterprises, reflecting up to 11 unique sectors, academia, and non-profits globally. Council members are committed to governing software changes, while bringing stability and continued decentralization to the public network." (https://hedera.com/council)
Overall Hedera Hashgraph is proving to be a worthy contender in the crypto world and doing a bit of fundamental analysis for myself on the company gives me confidence to hold this position for a while and not take all of my orders off the table at any point (until something changes).
Thank you, T (written 7/25/21)
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