Bullish continuation

4 thg 4

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

4 thg 4

Ghi chú

Setup depends on bitcoin's price action, keeping a close eye on the formation of a possible wave 4

4 thg 4

Ghi chú

Bitcoin just pierced the 0.5fib retracement. Official invalidation at $68754.

4 thg 4

Ghi chú

Bitcoin easily broke the 0.618. Possibilities for bullish continuation just increased. Reassessing new wave count.

5 thg 4

Ghi chú

Invalidation for more downward pressure at $64512.

5 thg 4

Ghi chú

Broke trendline. Looking impulsive with volume.

7 thg 4

Ghi chú

Still indecisive whether this is corrective or a finished wave 3. Wave 3 did hit the 1.618fib level. Invalidation level at $6.836.

9 thg 4

Ghi chú

My main scenario a wave X, perhaps a larger triangle.

9 thg 4

Ghi chú

Breaking $6.821 will lead to lower prices.

9 thg 4

Ghi chú

Keeping this BTC scenario in mind whilst eyeing NEAR's price action.

10 thg 4

Ghi chú

Potential subwave B completion

12 thg 4

Ghi chú

A bit of speculation. RSI does not yet support a triangle.

12 thg 4

Ghi chú

That escalated quickly! Wave Y started sooner then I hoped..

13 thg 4

Ghi chú

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.

14 thg 4

Ghi chú

Remain short-term bearish unless we break $5.758.

14 thg 4

Ghi chú

Adjusted count to one more leg down.

18 thg 4

Ghi chú

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.

19 thg 4

Ghi chú

Would be suprised if NEAR would follow Bitcoin's price movement and break out to the upside.

19 thg 4

Ghi chú

Low might be in for Bitcoin.

19 thg 4

Ghi chú

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.

20 thg 4

Ghi chú

I retract my comment from the 18th, because I do see a possibility for NEAR to have bottomed.

23 thg 4

Ghi chú

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.

24 thg 4

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