I have to prove that it's the equation of an equilateral hyperbola
$$z^2+z^{-2}=2$$
I try this
$z^2+z^{-2} +2 = 2+2$
$(z^2+1/z^2 +2 ) = 4$
$(z+1/z)^2=4$
$ z+1/z= 2 $
$ x+yi + 1/(x+yi) = 2 $
$ ((x+yi)^2+1)/(x+yi)=2$
$ x^2+2xyi-y^2+1=2x+2yi$
$ x^2-2x+1 +2xyi -y^2=2yi $
$(x-1)^2 +2xyi-y^2= 2yi$
I don't know how to end it.
The locus of $$z^2+(\bar z)^2=2 \implies (x+iy)^2+(x-iy)^2=2 \implies x^2-y^2=1$$ which is a hyperbola.