NEAR Protocol Higher Low Confirmed; Ready To Grow
Here is another one that is ready and this is part of the giants, NEAR Protocol. We already looked at the Tether (USDT) pair on the 12th of August, you can find it on the related ideas below this post. We are now going to be looking at the Bitcoin pairing now, NEARBTC.
The bottom for this pair was hit in October 2023 as part of the consolidation phase or as an extension of the bear-market. We can say the bear-market ended, for this pair and chart, around June 2023. These dates are not relevant for trading and different people can interpret the chart in different ways.
What's most important is to know is that after the late 2023 bottom we have a bullish wave, the initial bullish breakout or phase 1 of the 2025 bull-market. This wave is supported by high volume and in 2024 it remains within a very strong higher low.
By "strong higher low," I mean that the correction low price remain very far away from the market bottom. If the low is much closer it would be a weak higher low and if it gets too close we would call it a double-bottom. The further away support is found from the bottom, the stronger the pair. That is, referring to the inevitable correction that follows any bullish wave.
It is interesting to note that the first low in 2024 happened in March and in August we have a higher low. Other pairs produced completely different patterns by hitting lower and lower leading to present day. The higher low in August means that NEARBTC is strong relatively speaking.
The pair looks good and has potential for growth.
Looking at this chart, someone with a big portfolio/capital can use this pair to hold value. Something that is strong, good and has less volatility and still good growth potential.
Thank you for reading.
Namaste.
The bottom for this pair was hit in October 2023 as part of the consolidation phase or as an extension of the bear-market. We can say the bear-market ended, for this pair and chart, around June 2023. These dates are not relevant for trading and different people can interpret the chart in different ways.
What's most important is to know is that after the late 2023 bottom we have a bullish wave, the initial bullish breakout or phase 1 of the 2025 bull-market. This wave is supported by high volume and in 2024 it remains within a very strong higher low.
By "strong higher low," I mean that the correction low price remain very far away from the market bottom. If the low is much closer it would be a weak higher low and if it gets too close we would call it a double-bottom. The further away support is found from the bottom, the stronger the pair. That is, referring to the inevitable correction that follows any bullish wave.
It is interesting to note that the first low in 2024 happened in March and in August we have a higher low. Other pairs produced completely different patterns by hitting lower and lower leading to present day. The higher low in August means that NEARBTC is strong relatively speaking.
The pair looks good and has potential for growth.
Looking at this chart, someone with a big portfolio/capital can use this pair to hold value. Something that is strong, good and has less volatility and still good growth potential.
Thank you for reading.
Namaste.
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