NEAR / TetherUSLong
NEAR Targets $40 - Cup & Handle Play
This cup and handle play for NEAR shows a potential bright few months ahead for the bulls if BTC keeps its head above water.
Fibonacci extensions for the pattern are showing a potential 0.5x to 1.5x return from a $17 entry (being $30 and $40, respectively).
The handle is developing nicely from the establishing bull flag which, in itself, should take NEAR to $30 in measuring the length of the preceding bullish trend from $7.39.
Further, the handle appears to have finished it's 38.2% retrace from the cup lip, demonstrating plenty of support at $15 and strong upwards momentum.
I can't ignore a long play on this technical setup. Expecting to hold until August-September (conservative) for the second $40 target.
Fibonacci extensions for the pattern are showing a potential 0.5x to 1.5x return from a $17 entry (being $30 and $40, respectively).
The handle is developing nicely from the establishing bull flag which, in itself, should take NEAR to $30 in measuring the length of the preceding bullish trend from $7.39.
Further, the handle appears to have finished it's 38.2% retrace from the cup lip, demonstrating plenty of support at $15 and strong upwards momentum.
I can't ignore a long play on this technical setup. Expecting to hold until August-September (conservative) for the second $40 target.
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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.