NEAR/USDT on the daily timeframe highlights the Wyckoff phases A, B, and C, indicating a potential short position setup. In Phase A, there is a break of structure (BOS) followed by a sign of weakness (SOW), suggesting initial bearish pressure. Phase B shows multiple tests of resistance and support levels, forming lower highs (CHoCH) and lower lows, signaling further consolidation and distribution.
In Phase C, the final sign of weakness (LPSY) is evident as the upward trendline is broken, leading to a sharp decline in price towards lower support levels. The target price is set at 4.459 USDT, with a risk/reward ratio of 3.4. Key price levels include 6.029 USDT and 4.813 USDT, with a strong support zone around 2.670 USDT, making this a compelling short position opportunity.
In Phase C, the final sign of weakness (LPSY) is evident as the upward trendline is broken, leading to a sharp decline in price towards lower support levels. The target price is set at 4.459 USDT, with a risk/reward ratio of 3.4. Key price levels include 6.029 USDT and 4.813 USDT, with a strong support zone around 2.670 USDT, making this a compelling short position opportunity.
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Note
TP1 reach. hold 50% positionNote
Reshort with full positionNote
Close 50% . Keep 50 to 2.6
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.