Triggers to watch out for on NEARUSDT
Hello Merchants!
The NEARUSDT 4H chart above has a trend determining pattern which we may not detect on the 1W chart. Currently, the candlesticks are resting on the support trend line corresponding to the support level at $8.9 and we could have a strong bearish trigger if the candlesticks break through that tend line.
Alternatively, if we get a bounce off away from the trend line, price should follow the fib extension levels and get to the 0.618 level whose price is at about $10.8 before the end of this week.
Nevertheless, we can see that price bounced away from A to the resistance level at $10.45 and got rejected, hence triggering a bearish movement.
Price looks to stay at levels below $10 for the rest of this week.
Proper triggers are at $8.9 for bearish movement and $10.5 for bullish trend.
Goodluck trading!!!
The NEARUSDT 4H chart above has a trend determining pattern which we may not detect on the 1W chart. Currently, the candlesticks are resting on the support trend line corresponding to the support level at $8.9 and we could have a strong bearish trigger if the candlesticks break through that tend line.
Alternatively, if we get a bounce off away from the trend line, price should follow the fib extension levels and get to the 0.618 level whose price is at about $10.8 before the end of this week.
Nevertheless, we can see that price bounced away from A to the resistance level at $10.45 and got rejected, hence triggering a bearish movement.
Price looks to stay at levels below $10 for the rest of this week.
Proper triggers are at $8.9 for bearish movement and $10.5 for bullish trend.
Goodluck trading!!!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.