Bullish continuation

4 apr

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 apr

Nota

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

4 apr

Nota

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

4 apr

Nota

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

5 apr

Nota

Invalidation for more downward pressure at $64512.

5 apr

Nota

Broke trendline. Looking impulsive with volume.

7 apr

Nota

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 apr

Nota

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

9 apr

Nota

Breaking $6.821 will lead to lower prices.

9 apr

Nota

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

10 apr

Nota

Potential subwave B completion

12 apr

Nota

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

12 apr

Nota

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

13 apr

Nota

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 apr

Nota

Remain short-term bearish unless we break $5.758.

14 apr

Nota

Adjusted count to one more leg down.

18 apr

Nota

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 apr

Nota

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

19 apr

Nota

Low might be in for Bitcoin.

19 apr

Nota

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 apr

Nota

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

23 apr

Nota

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 apr

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