NEAR: Bullish Momentum Building with Inverse H & S🚀

١٦ مايو

💎 Paradisers, #NEAR has formed an inverse head and shoulders pattern, enhancing the probability of a bullish move.

💎 Price action has shown a Change of Character (CHoCH) and a Break of Structure (BOS) in lower timeframes. You can observe that #NEARUSDT has also bounced from the Fair Value Gap (FVG) zone, and currently, the price has shown an FVG, so we can expect a bounce from these levels. Be cautious here; there is also a bullish Order Block (OB) and a supportive trendline aiding the bulls, so considering stop losses here would be logical.

💎 For confirmation of the inverse head and shoulders, we need a breakout and a candle closing above the resistance zone.

💎 However, if the price shows a fall or panic selling and breaks down below the bullish OB and supportive trendline, it will invalidate the bullish signs. In that case, it would be better to wait for more favorable price action to develop.