NEAR / TetherUSLong
NEAR descending triangle
Start of the week analysis:
On the weekly chart we can see a structure forming on the NEAR chart. This is a form of a W which means that when the W forms we will have a huge price action to the upside. On the daily we can clearly see a descending triangle. In general this indicates a bearish pattern for the short term and would mean that we will be consolidating a bit more before going back up. At the moment we need to focus on the weekly chart where the bullish W structure is forming.
On the weekly chart we can see a structure forming on the NEAR chart. This is a form of a W which means that when the W forms we will have a huge price action to the upside. On the daily we can clearly see a descending triangle. In general this indicates a bearish pattern for the short term and would mean that we will be consolidating a bit more before going back up. At the moment we need to focus on the weekly chart where the bullish W structure is forming.
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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.