Short

NEAR PROTOCOL $NEAR CALLING THE TOP HERE. NFA. DYOR

By dhruvbhagat1992

Updated

Sharing my thoughts on comparing charts with Wyckoff Distribution. Final target is 5.5 USD. While RSI is bearish. Overbought on all technical indicators.

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Lost the support from previous high 17.95! it will come back to retest and hopefully get rejected according to Wyckoff Distribution model.

Note

Forgot to post this NEAR/BTC which was at resistance making a new high.

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Here is Wyckoff Distribution Schematic 1 for better understanding.
miro.medium.com/max/1400/1*5R-JCgN8nbNsKv8No6B-sw.png

Trade closed: stop reached

If this is a fake out above the ascending broadening wedge and it fall back into the channel, i will post a short. But I got no clue here. Also, I wouldn't long here at all.

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NEAR fake out successful above ascending wedge which is technically bearish.
It fell back to wedge again failing the retest. Lost trend for now. I will short at retest. Just a game whales like to play "Liquidate shorts and Liquidate Longs" or vice versa.

dhruvbhagat1992

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