Near Protocol Bump and Run Reversal BottomBINANCE:NEARUSDT
Hello Traders, Farid here. I have been trading stocks since 2017 and later got into crypto.
Neear Protocol price drop-off in early november followed the lead-in phase where prices moved in a narrow range during the rest of november. The bump was formed and then rounded upwards as prices left the bowl and moved higher breaking out of the trend line, moving higher on the uphill run to new higher highs. When the price broke out of the trendline and closed above it I got the confirmation that I was looking for and I am ready to open a long position here. I believe this is a low risk high reward setup as Near is one of the bottomed altcoins.
First TP $2 (there is strong volume and if we break this level then the next target is $3)
Second TP $3 (there is strong volume and if we break this level then the next target is $3.45)
Third TP $3.45 (my ultimate target is $3.45 which is the highest point in the pattern, if we break this levels then the next target would be $4.5)
Overall, Near is strong against Bitcoin and if there is a minor increase in bitcoin prices we could see 2-3x in Near prices.
Good luck and trade smart! (not a financial advice)
Please like and share if you like my idea.
