Bullish continuation: Up from here.
Description:
Long & mid-term perspective for NEAR.
Mid-term target:
- wave 3 - 1.618fib at $14.34
Long-term target:
- 1.05fib at $23.904, 1.236fib at $42.143 ("bearish")
- 1.618fib at $135.038 (bullish)
Long & mid-term perspective for NEAR.
Mid-term target:
- wave 3 - 1.618fib at $14.34
Long-term target:
- 1.05fib at $23.904, 1.236fib at $42.143 ("bearish")
- 1.618fib at $135.038 (bullish)
ملاحظة
Update on Bitcoin_v0.1. Next move bitcoin could give us much more information on its trajectory. Expect a wave C (5 waves).ملاحظة
Update on Bitcoin_v0.2. ABC turned into a 1-2-3-4-5. ملاحظة
Quick ew update on NEAR.ملاحظة
Take notion of 3 possible Bitcoin scenario's:1) double zigzag for a potential wave 2 (bearish/bullish)
2) double zigzag for a potential wave Y (1.618fib at $57087) (bearish)
3) leading diagonal for a wave 1 (bearish)
ملاحظة
Update Bitcoin_v0.3. Finished wave 1? (RSI bullish divergence w5, 4h)ملاحظة
Move upwards can be labelled as ABC for an X-connector. Expecting a wave Y. For people that like to go short, this might be good oppertunity and at a later stage take long positions for another possibility to buy NEAR at lower prices, see targets. Long-term picture, I'm still bullish.ملاحظة
A breather for Bitcoin. Wave 3 touch the 1.618fib and a potential wave 4 within 3 just got invalidated at $58818. I.m.o. a potential wave B (larger ABC - Wave X) got invalidated as well, because price broke the 1.38fib extension at $56978.ملاحظة
Reassessed the Bitcoin chart and this it is currently my best guess in terms of getting ew count right. Don't know if anybody else has this count, but feel free to comment. X wave is done and we're in wave Y.
ملاحظة
Information: The 2nd wave 1 only reaches 0.786fib of wave 1 and 2nd wave 2 got overlap with wave 1. Thus, this it’s safe to say we’re not in a wave 4.
Price still moves in a base channel and could still be considered a corrective pattern. Yet, there is enough evidence to suggest that this could be 1-2, 1-2 setup. The waves are similar in portion and time, and the corrective structure does not exhibit alternation.
Consider the 50ema cross, RSI cross resistance, and MACD baseline + bullish momentum cross a good indication for a long position. Second confirmation will be a break of the base channel (correction). Will have closer look on the LTF if there is more evidence for a bullish case.
ملاحظة
How confusing.. On the LTF, I can't find a bullish case for the current structure. I can't identify 5 waves up. Red box, 4th wave crosses 0.618fib. If anybody else has a different count please share.ملاحظة
Let's see if bitcoin can touch/break the 0.618fib at $61446!ملاحظة
I see a potential long trading oppertunity for NEAR. Displayed a bullish MACD zero-line reversal (from above).ملاحظة
Update Bitcoin_v0.4. Classical indicators show a short-term bullish narative.ملاحظة
NEAR displays a strong bull case. My main ew count still remains a 1-2, 1-2 setup (extension not identified). This leading diagonal cannot be a (truncated) fifth, because wave 4 crossed wave 1. For that reason alone, it seems like the low is in and we're looking at a leading diagonal for a wave 1.ملاحظة
Update Bitcoin v0.5. 1-2, 1-2 setup. ملاحظة
Count hasn't changed. Last wave up for a finished leading diagonal.ملاحظة
Suspect NEAR's price to make a HH to the midline of the channel before reversal. MACD(d) already shows an upcoming divergence. Wait for confirmation of break trendline. After that, I expect the lower band of the base channel to act as support before commencing w3.ملاحظة
Leading diagonal seems to already played out. Move prior is corrective, but not impulsive. For now, b-wave touched the 0.886fib and we're looking at a potential C/Y-wave (w3). RSI(d) resistence trend got broken. Will update chart for target(s), entry/exit points.ملاحظة
Update Bitcoin v0.6. ملاحظة
**correction 'label: this structure is not impulsive' in bitcoin chart can be identified as a leading diagonal, see invalidation lvl in chart.ملاحظة
Update Bitcoin v0.6.1.ملاحظة
Support bullish narative. Keeping it simple.ملاحظة
Still leaning towards a leading diagonal | rising wedge (bearish). Price reacted to the 50ema. However, the formation is taking rather long (normally between 3-6 weeks) and furthermore, I expected a deeper pullback to be hit instead of the .236. Ideally, NEAR would make a new HH (or perhaps hit previous high | double top) before a pullback**Not likely that this structure will turn into a flat. Timewise it doesn't agree with the previous structure (w2 minute degree).
ملاحظة
Penny for your thoughts
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.