Bullish continuation
Desciption chart setup:
- Possible short formed W (RSI trendbreak confirmed 4h)
- Descending triangle formation for a possible wave 4 (Retracement fib target reached 0.382)
- Target box laid out in chart
- Possible short formed W (RSI trendbreak confirmed 4h)
- Descending triangle formation for a possible wave 4 (Retracement fib target reached 0.382)
- Target box laid out in chart
บันทึก
Setup depends on bitcoin's price action, keeping a close eye on the formation of a possible wave 4บันทึก
Bitcoin just pierced the 0.5fib retracement. Official invalidation at $68754.บันทึก
Bitcoin easily broke the 0.618. Possibilities for bullish continuation just increased. Reassessing new wave count.บันทึก
Invalidation for more downward pressure at $64512.บันทึก
Broke trendline. Looking impulsive with volume.บันทึก
Still indecisive whether this is corrective or a finished wave 3. Wave 3 did hit the 1.618fib level. Invalidation level at $6.836.บันทึก
My main scenario a wave X, perhaps a larger triangle. บันทึก
Breaking $6.821 will lead to lower prices.บันทึก
Keeping this BTC scenario in mind whilst eyeing NEAR's price action.บันทึก
Potential subwave B completionบันทึก
A bit of speculation. RSI does not yet support a triangle.บันทึก
That escalated quickly! Wave Y started sooner then I hoped..บันทึก
This was bound to happen at some point, but when it hits it hits HARD. Hope everybody executed their trading plan. This correction can be very quick and deep.บันทึก
Remain short-term bearish unless we break $5.758.บันทึก
Adjusted count to one more leg down.บันทึก
Update. Based on the current corrective structure, I forsee one more low for a finished wave Y/wave 4 (minuette). However, there is a clear invalidation level at $4,026, that makes it unlikely to touch the 1.236 & 1.618fib. Unless ofc this is not a wave 4. For the low to be in a double bottem (or truncated 5th) will confirm bullish momentum.บันทึก
Would be suprised if NEAR would follow Bitcoin's price movement and break out to the upside.บันทึก
Low might be in for Bitcoin.บันทึก
Previous chart was incorrectly labelled. The ending diagonal appears in Wave C of a zigzag. Wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 3 is shorter than wave 2.บันทึก
I retract my comment from the 18th, because I do see a possibility for NEAR to have bottomed.บันทึก
Focused to much on the smaller timeframe. Expected a potential wave 4. However, wave 4 got invalidated (diagonal seems far fetched) as well as varies ABC structures. A 1-2, 1-2 setup might now be possible, but I can't rhyme this with Bitcoin's chart unless BTC lifts off.ปิดการเทรด ด้วยตนเอง
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