[Music] hello and welcome to another update video about H bar so on the H bar long-term chart or daily chart we are still we're still hovering around that um 100% extension which is located here around 17 Cent we've actually broken slightly above it and we're going to take a look at the smaller time frame to confirm further what's going on there um but overall as I said in the previous videos the the white or bullish scenario is preferred and I've been highlighting that we have a support area currently located between 10 cents and 5. 6 cents that's only support it's not a Target until we have a confirmed top and we have to adjust this support area with the price as it's still climbs higher because this is just based on the standard Fibonacci retracements of the rally that started on the 5ifth or 4th of November and we've ried from around 4 cents 4 and a half cents from this support region into the first Target area or resistance area but the first wave three Target is here at 28. 3 cents I mean it might do it directly right it might get there more directly um without even that b-wave pullback so pullbacks are not guaranteed but I want to prepare you for what the support is that needs to break in order to get an understanding that the current Trend breaks because at the moment as long as we trend is up you know we can focus on higher and the lower we go while keeping that scenario alive the better the reward to risk ratio for anybody who's looking for an entry point then when it well pushes higher it could follow through here for a BC pattern to complete wave three then another 4 five um the idea would be um these levels here are relevant yeah 93 cents 226 but let's first see how we can work through this blue resistance area so if we take a look at the shorter time frame this is the oops the updated micro chart yeah on the 1 hour time frame we actually have a possible five wve move up and like some of the other charts like for example um Doge or xrp we were tracking here the potential of a wave 4 one more High um even though it um could have already started the b wve anyway right but obviously wants to go higher so we had a triangle here micro support held I can remove that now we don't need this micro support area anymore micro support held and it's uh formed actually a triangle pattern and decided to break out to the upside and triangle can be a warning that the next move up is the last one I mean not of the overall trend but of this local rally that started on the 4th of um November or 5th of November because triangles are W wave fours are often triangles right and if a wave four is a triangle then there should be another wave five and that could be it if the idea of a triangle is correct I mean the alternative interpretation would be wave four as a running flat ABC to be honest this de is quite quite short but um in it doesn't make a great difference the other interpretation as I said would be a running flat so that we have an A overshooting B wve c-wave happens very often in the crypto world and then here this would be a fifth wave up to complete wave a a waves can be five wave movements or three-wave movements and it looks as if um it wants to attack the next FIB level at 20.
1 cents then above that we've got the and we have to go to the larger time frame 23. 2 Cent level and what would be the first indication now that we start the pullback well the first indication would be a break below the last swing low located at 13. 7 sense so this is the level that needs to be broken I mean minimally as indication that a local top has formed um a break below the 14.
8 Cent level but this really just a local top but for now the trend is up 20. 1 cents is next and above that as I said round about 23.
