No doubt we are in an uptrend for
NEARUSDT and this might just be a nested 1-2/1-2 which is super bullish reaching as far as $40. Now we are at a crossroads and if this scenario is valid from here we should se price retrace to the 50 - 78% Fibonacci level to form either wave 2-blue for the leading diagonal wave 1-blue or a deeper retracement down and out of the channel to $4.26 turning the whole process from wave 1-orange down to that point to become a Flat pattern. Overall NEAR PROTOCOL IS BULLISHThere are some other scenario that are highlighted as 12345-white and or A and C-green but don't bother about it if it is to complex for you to understand, just focus on the main narrative which is the one I've explained above.
The good entry/accumulation point are the highlighted Fibonacci zones as seen on the chart.
There are 2 invalidation level on the chart. One is for the 12345-white and 12345-blue. If you believe in this scenario you entry should be within the first Fibonacci level and price must not cross the last swing high $4.280 while the second invalidation level is for the 12345-yellow and orange. If you believe in the 1-2/1-2 scenario.
Each invalidation level depends on the type of trader you're and how much risk tolerance you trading style can tolerate.
Feel free to ask question if you don't understand anything here and don't forget to react.
OTHER ANALYSIS
ACAUSDT
PEOPLEUSDT
USDJPY
Note
NEARUSDT heading where it belong double digit profit since I postedNote
NEARUSDT hit the target after chopping for good 25 days yet another profit booked on this.Note
From point of entry NEARUSDT has gained over 20%. If you've been following, Perfectly following my blueprint
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.