HBAR · 1H · DOWNTREND

The short from my last read fully delivered — both targets hit, with price flushing from 0.1030 all the way through 0.0989 and down to 0.0953. That move is done. Now I'm watching a sharp recovery candle off the 0.0911 low, with price at 0.0958 and the EMA 9/20 cluster curling up beneath it. The daily trend is up, the short is exhausted, and the IBM/Hedera IBM Cloud catalyst from late September gives the bull case macro support. But this 1H chart is still a downtrend — lower highs and lower lows from October 5 through this morning's low — and the first thing price has to do is reclaim the falling EMA 50, currently sitting right at 0.0957. One closed candle above the EMA 50 with follow-through is not the same as confirmed structure. I'm not chasing this spike.

The dense liquidation cluster at 0.0979 sits just above as the first magnet — that is where a stop-hunt on shorts is most likely to stall price on a first push. The next cluster at 0.1050 is the real structural target if bulls can close above the near-term resistance and the EMA 200 (currently around 0.0994). Funding is mildly long-biased at 0.0100% per 8h — not extreme, no squeeze risk on either side yet. Open interest data gives no 24h trend, so I'm not reading conviction into this bounce from positioning alone.

I want a pullback into the rising EMA 9/20 cluster (around 0.0939–0.0941 today, rising) that holds, followed by a close above 0.0979 clearing the dense liquidation cluster overhead. That sequence — hold the pullback, then break the cluster — is what turns this spike into confirmed bullish structure on the 1H, aligned with the daily uptrend. Chasing at 0.0958 after a sharp vertical move gives me no structure to lean against.