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NEAR

Aug 31, Week overview.Overview: The Personal Consumption Expenditures (PCE) Price Index for July, also known as the inflation rate, was reported at 2.5%. This matches the rate from June and is consistent with the readings from January and February of this year. The PCE is similar to the Consumer Price Index (CPI), but the Federal Reserve prefers the PCE because it accounts for changes in consumer behavior and provides a broader measure of inflation. For example, if consumers switch from buying beef to chicken because beef becomes more expensive, the PCE captures this substitution effect, whereas the CPI does not adjust as quickly. The FRED:SP500 SP500 closed the week with a strong performance, breaking out of its established range with the highest volume seen in the last 20 days. However, this surge wasn’t driven by the volatile tech sector, as evidenced by the weaker performance of NASDAQ:QQQ . The Dow Jones Industrial Average ( TVC:DJI DJI) closed with a confirming green candle, cementing its all-time high. The economy appears to be booming. W: This week, COINBASE:BTCUSD completely retraced last week’s green candle that touched the Bollinger Bands (BB) moving average (MA). It's always interesting to see what happens during Asian trading hours on Monday morning (late Sunday evening in the US). This time, the US might not interfere with Asian market movements due to the Labor Day holiday. If there’s a sell-off, US bulls might be away from their brokerages, unable to support the crucial $58.4k level. Bearish. D: Over the last four days, BTC has seen lower highs but the same lows. This period mirrored the global liquidity index, which has been declining for the last four days as well. No divergences. 4h: No divergences. BTC is below the Point of Control, which is bearish, but it is aiming to break the weekly support line for the third time in four days. Neutral. 1h: Range trading. No divergences. Neutral. Alts relative to BTC: Alts are weaker than BTC. This is the type of divergence we typically look for. BINANCE:SOLUSD and BINANCE:NEARUSD have been sliding down for the last eight days, approaching their August 5th closing prices. BINANCE:ETHUSD is only 2.44% below its recent level. Bull case: A booming stock market could reduce inflation concerns. Market participants may turn optimistic and start betting on riskier assets. BTC could hold the $58.4k level once again, and next week we might see a big green candle that initiates the fourth bull run wave of the current cycle. Bear case: The worst happens—while bulls are celebrating Labor Day, Asian bears could completely annihilate the market. Fear and greed index: 46.36. Flat for four days. Prediction: Short-term outlook is indecisive. Weekly outlook remains bearish. Opportunities, at W, 4h divergences of major alts: Many Alts are at weekly levels as BTC attempts to bounce off its support level. This presents an opportunity for a few short-term green candles. However, be cautious, as you will be betting against a larger trend, so set tight take-profit (TP) levels and even tighter stop-loss (SL) levels.
COINBASE:BTCUSD
by EvgenCapital
NEAR Trading targets 2024-25Quick T/A update for September 2024 - December 2025 Monthly chart of NEAR price from the beginning. Purple and blue fibs are what I call 'Origin Fibs', which I use for medium to long-term crypto trading. When close together they can create trading zones that I check for historic resistance and support. One of my principles is that zones need to become 'confirmed support zones' before a meaningful push to the higher zones becomes more likely to occur. With crypto, hype and fear dramatically influences price, which is expressed in big peaks and sudden troughs. I therefore take a longer term view. With NEAR, the $8-$9 zone is a confirmed support zone, which in my view increases the likelihood of this zone being overcome in the short term and reduces the likelihood of a confirmation move (i.e. price can shoot through it without requiring a re-touch for confirmation). Trading Target Zone I ($11-$14) however, is a yet-unconfirmed support zone and therefore a different story. Selling in the high end within this zone, can result in a good buying opportunity later as the price meanders back down (potentially as low as $11, with an intra-month spike even below that) to confirm this zone as a support zone. Trading Zone II is highly likely to spark a pull-back before it may be overcome later. I'm not speculating beyond this point. Good luck NEAR hodlers and LT traders.
BINANCE:NEARUSDLong
by Fractaleer
1
NEARUSDT🔍 NEAR/USDT Analysis: Key Dates for Strategic Moves 📉 The NEAR/USDT chart highlights important upcoming dates where price movements may present trading opportunities: • August 21, 2024, August 28, 2024 - Red Lines: These dates mark potential local peaks. Traders should consider these as moments to take profits or reduce exposure, as the price might face resistance or a downturn. • August 23, 2024, September 1, 2024 - Green Lines: These dates indicate potential local lows, offering favorable conditions for accumulating NEAR or entering long positions. By aligning your strategy with these key dates, you can better position yourself to capture gains and manage risk effectively in the NEAR market. Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).
by trushkovskiy
1
NEAR🔍 NEAR/USDT Analysis: 4-Hour Timeframe 📉 The NEAR/USDT chart on a 4-hour timeframe highlights significant upcoming times where price movements may present trading opportunities. These signals should be analyzed in conjunction with higher timeframes for a comprehensive market view. • September 1, 2024, 9:00 AM, September 9, 2024, 9:00 AM - Green Lines: These times indicate potential local lows, offering favorable conditions for accumulating NEAR or entering long positions. • September 16, 2024, 9:00 AM - Green Line: This time marks another potential local low, which may present an opportunity to buy. When working with this 4-hour timeframe, remember to evaluate these movements within the context of the broader market trend, considering higher timeframes for a more global perspective. Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).
Long
by trushkovskiy
Aug 29Overview: The FRED:SP500 experienced another day of indecisiveness. However, for the first time during this established range, it closed in red for two consecutive days. NASDAQ:QQQ followed a similar pattern. Both indices showed higher volume than the previous day, confirming the downtrend. Buckle up for the opening price on September 3rd (Monday is Labor Day in the US). GDP growth came in strong at 3%. Does this seem like a shrinking economy? Could there be a recession if the Fed doesn’t pour gasoline on this fire? It’s starting to look like 2 rate cuts instead of 4 by the end of the year. BTC ETF has been selling for three consecutive days—on the 27th, 28th, and 29th. On the 27th, we saw a big red candle, but the market was able to absorb all that selling pressure without dropping lower. However, it's a bearish sign that even at the relatively low price point of $60k, the ETF crowd doesn't seem confident in COINBASE:BTCUSD ETH ETF trading was halted, with no buying or selling activity. Are they bracing for a big move, or is this the bottom? W: Old range, nothing new. Bearish. D: On Thursday, bulls tried to push it higher and correct the crash that occurred on Monday, Tuesday, and Wednesday. However, we are holding the range support, and the recent dip resulted in higher lows and higher highs. Mildly bullish. 4h: Sitting at the point of control line (from volume profile). It wants to break above the BB MA for the second time this week. Mildly bullish. 1h: Broke above BB MA, with an upper target of $60.05k. Bullish. Alts relative to BTC: For many ALTs ( COINBASE:SOLUSD , COINBASE:NEARUSD , BINANCE:ARUSD , COINBASE:RNDRUSD ), Thursday was a red day, creating a divergence with BTC. This is bearish for the overall crypto market. If we have three days of the market going down, and on the fourth, BTC is recovering, we want ALTs to recover with it, not continue the sell-off. Bull case: We are holding our levels strongly, and more accumulation is happening at this level. The Cumulative Volume Data (CVD) indicator suggests that even with more aggressive sellers present, the price is still able to rise, meaning some market participants are buying up those sell orders. Bear case: Same as yesterday—the bulls are weak, and the price continues to revisit the support level until it’s broken. Fear and greed index: 46.45. No change. Prediction: Short-term zigzag, long-term bearish. Opportunities, at W, 4h divergences of major alts: With BTC not knowing where to go, any ALTs technical analysis will be useless. Just like our previous prediction of COINBASE:APTUSD correction due to the MACD divergence and head-and-shoulders pattern didn’t play out, and it still bounces off the weekly resistance level.
COINBASE:BTCUSD
by EvgenCapital
Aug 25Overview: The FRED:SP500 closed Monday with a red candle, erasing last week’s Friday gains. Durable goods orders were reported today, showing the highest increase since July 2020. This indicator reflects the amount of new orders placed with manufacturers for durable goods expected to last at least three years, such as automobiles, appliances, electronics, and machinery. An increase in durable goods orders typically signals business confidence and a willingness to invest in long-term assets. However, this rise was driven mainly by automobile purchases; excluding cars, the figure was down 0.2%. Global liquidity has been increasing for the past 60 days. The last time we saw such a sustained rise was from the end of October 2023 to mid-January 2024, which marked the start of the current bull market. This is a bullish signal. W: The BINANCE:BTCUSD price has reached the lower bound of the current range, 63k-64k. D: Monday closed with a red candle. The lack of a lower wick is concerning, suggesting that bears pushed the price down throughout the day without giving bulls a chance to buy back. It closed slightly below the W level of 63k, at 62.8k. 4h: The price is at the bottom of the Bollinger Bands (BB). A rebound is needed, but it’s not happening yet. The price is trading below the W level. While this isn’t a significant issue for the W candle, it’s crucial for the 4h to stay above 63.1k. 1h: The RSI has touched the oversold level of 30. This is a bullish signal. Alts Relative to BTC: There’s no significant divergence. Some altcoins corrected less ( BINANCE:SOLUSD , BINANCE:NEARUSD ) while others corrected more ( BINANCE:SUIUSD , BINANCE:FTMUSD ), but in the early hours of Tuesday, almost all have recovered to their highs after the recent pump. Bull Case: This isn’t a bull trap, and we’ll see a climb on low trading volume. Whales might hold on, waiting for interest rate cuts, or they could start selling just before the cuts. Bear Case: This is a bull trap unfolding, with fewer bulls willing to hold this price level. Fear and Greed Index: 53.61. This is a 'no trade' zone if you prefer to buy low and sell high with the highest conviction. Prediction: Undecided. Opportunities: BINANCE:AAVEUSD : At W level $128. Bullish. BINANCE:MKRUSD and BINANCE:UNIUSD : Both are holding strong W levels that predate BTC ETF demand. Bullish. BINANCE:TAOUSD : Drawing a MACD divergence on D and 1h, with the W level of $361 being rejected for the third time. Bearish.
COINBASE:BTCUSD
by EvgenCapital
Aug 24Overview: As we begin the last week of August, we might be heading into a very turbulent period. On one hand, BINANCE:BTCUSD hasn't even broken its previous bull run's all-time high when adjusted for inflation. Neither the halving nor ETF demand was enough to push crypto higher, and now we have some altcoins like BINANCE:AVAXUSD trading 30% below their January 11th BTC ETF levels. On the other hand, the FED is finally planning to cut rates on September 18th, which could potentially loosen the printing press. Remember when it was going "BRRRR"? Well, it technically never stopped—just in the form of government spending. Unfortunately, that windfall doesn’t seem to reach speculative assets. Congratulations on last week’s gains, with some coins such as COINBASE:ARBUSD , BINANCE:MATICUSD and BINANCE:AVAXUSD posting +30% gains. If you bought the dip, this is a great moment to take some profits, or at least move your SL higher. This Sunday was the first in four weeks that didn't post a red candle, as we noted in a previous letter. But it wasn’t very green either, closing with a 0.11% doji. The red candle was merely postponed to Monday morning. The U.S. Employment Report on Friday, September 7 at 8:30 am is crucial because it will provide key insights into how the recent interest rate hikes are affecting the labor market, particularly regarding rising unemployment and jobless claims. As the Federal Reserve continues its tightening policy, this report could signal whether the economy is heading toward a slowdown, which would influence future monetary policy decisions. Quick note regarding BINANCE:TONUSD On August 20th, we mentioned that it "finished drawing its 'Motive' part of Elliott's wave pattern. In about 40 hours, it might finish drawing the B wave, presenting a short opportunity that will last throughout the C wave down." Unfortunately, the market witnessed the C wave not because of Elliott's wave but due to Pavel Durov being arrested by French police the moment his plane landed. TON crashed that day by 18.40%. Although Pavel isn’t the founder of TON, he is closely affiliated with it. W: Reached BB MA. If bulls can hold the $63.1k level, there’s a chance for a 4th wave to $70k. D: Held the important bullish W level of $64k. It’s better to have that buffer between $63k and $ 64k for bulls to regroup and go on the offense again. Currently at the upper bound of BB. If the next W level of $63.1k doesn’t hold and it corrects to BB MA, it will hit the D level of $61.8k. 4h: Losing the $ 64k level early Monday morning in the U.S. 1h: MACD divergence yesterday, on the 25th at 8 pm NYC time. We are now seeing the result of that divergence. Alts Relative to BTC: Altcoins didn’t hold as well as BTC over the weekend, correcting from the heights of the pump: BINANCE:UNIUSD 10% BINANCE:SUIUSD 9.56% BINANCE:NEARUSD 8.25% Bull Case: BTC holds W levels and continues pumping with new strength toward $68.2k. Bear Case: This was a classic bull trap—one last breath, one last wave, one last pump before a free fall toward $52.2k. Fear and Greed Index: 56.2. We’ve been bouncing in the Neutral zone since May 19th with occasional and insignificant peaks into the Greed territory. However, even this chart has been drawing lower highs and lower lows. Prediction: BINANCE:BTCUSD corrects to $61.7k Opportunities, at W, 4h Divergences of Major Alts: Since BINANCE:NEARUSD broke through its W resistance of $4.38 during the recent pump, it’s very likely to return to that level, which should at least become new support. This presents an 8.62% short opportunity. BINANCE:SUIUSD has drawn a MACD bearish divergence on the D timeframe and has also just hit its W resistance level of $1. TP at $0.85, which is 10.00% away. BINANCE:TAOUSD reached its upper W resistance. Correction to D level $304 could produce a 12.51% return. BINANCE:FTMUSD is at its resistance level. There’s an opportunity to make 17% by shorting to its next W level of $0.40.
COINBASE:BTCUSD
by EvgenCapital
Aug 23Overview: Wow, what a 24 hours it has been. At one point, BINANCE:SUIUSD was up 21.6%. Yesterday, we mentioned that "some long positions can be taken with a properly tight SL" once a new trading range was established. On August 21st, we wrote, " BINANCE:ARUSD , BINANCE:APTUSD , BINANCE:TAOUSD showed better price action in the last couple of days. They will likely continue trading higher next week, as BTC stays within its range." But let's break it down step by step. VANTAGE:SP500 posted a green candle, closing the week on a positive note. However, that candle was within the shadow of yesterday’s red candle, making it neutral rather than bullish. Additionally, Jerome Powell’s speech at Jackson Hole wasn't particularly dovish. It was seen as a signal that the Federal Reserve is prepared to maintain a restrictive stance on monetary policy to ensure inflation is brought under control, even if that means keeping interest rates higher for longer than the markets might prefer. BTC saw a massive $252 million in ETF flows from tradfi investors. And what did early Grayscale Trust adopters do? They sold $35.6 million worth of it. We’re left wondering how much of that $35.6 million was clients simply converting expensive GBTC into cheaper BTC fund, or if they sold for good. Unfortunately, even on-chain analytics won’t reveal that. ETH ETF? No chance... Tradfi investors don’t seem to grasp smart contracts. They sold $5.7 million worth, even during a significant BTC rally. Whales and other professional market actors are well aware that September is historically volatile and often brutal. Will they start selling and closing their positions in the last week of August, or will they wait until the first or second week of September, right before the expected interest rate cut? The big question is, do you want your portfolio to end up in a meat grinder? W: Yesterday’s BINANCE:BTCUSD wick went higher than the BB MA, but after a pullback, it settled nicely right at the precisely drawn W level of $64k. If bulls can keep it above the $63k level, we can start talking about a new bullish sentiment, but as of now, we are still in a bear market. No divergence. D: The $61.8 level was taken by bulls six times, and on the seventh attempt, they gathered enough strength. BTC rebounded after a crash, forming a nice bullish pennant. However, it has now reached the upper bound of the Bollinger Bands. Definitely not a time to go long—keep an eye on MACD or CVD divergences. 4h: RSI is above 70, but no MACD divergence yet. 1h: No divergences. Alts Relative to BTC: If BTC grew by 6%, BINANCE:APTUSD is up 9%, COINBASE:RNDRUSD is up 10%, BINANCE:NEARUSD is up 12%, and BINANCE:SUIUSD is up 20%. Is SUI gearing up to be 3rd favorite smart contract platform after SOL? Will be looking closely. Some of these started to rally 2-3 days ago. BINANCE:ETHUSD and BINANCE:SOLUSD performance was more underwhelming, posting only 5.4% and 7%, respectively. Are they so beaten up that fewer people want to touch them? Where’s the ETF crowd? Leave your thoughts in the comments. Bull Case: Bulls are able to hold the important W level in anticipation of rate cuts. Reaching that level has already happened; now it’s just a matter of staying there. If Panama, Brazil, and Paraguay announce Bitcoin as legal tender, following in the footsteps of El Salvador and the Central African Republic, this could fuel further bullish sentiment. Bear Case: The trend continues without a reversal. The Fed doesn’t cut rates quickly enough, and corporate earnings reveal weakness in consumer spending. Whales and insiders start selling and shorting in late September, causing the market to drop in October—a month historically tough for crypto (cough, cough... FTX). 2013: After a strong first half, Bitcoin saw a correction in September before resuming its rally towards the end of the year. 2017: Bitcoin experienced a notable dip in September, partly due to regulatory concerns in China. However, this was followed by a rapid recovery and an all-time high in December. 2021: After strong growth earlier in the year, September saw a decline due to regulatory fears and macroeconomic factors, although the market rebounded in Q4. Fear and Greed Index: 55.87. Remember—you only buy in 'Fear' territory, which is below 40. Prediction: We might see some altcoins grow a bit more, but overall, BTC is likely to post a Doji candle next week. Opportunities: On W and 4h charts, we continue to see many major altcoins in the RSI danger zone. Wait for Saturday’s price action and potential divergences to prepare for a Sunday sell-off.
COINBASE:BTCUSD
by EvgenCapital
Aug 22Overview: The S&P 500 corrected by 1.17%, as more turbulence is expected in its attempt to break the all-time high (ATH). The chances of a 1.73% rise on Friday are slim, but we still have one more week of a relatively calm August to set some bull traps. Thursday saw a correction for BTC, but it managed to hold the crucial $60.2 level, attempting to break it three times. This establishes a new range of $60.2 to $63.1, where some long positions could be taken with a properly tight stop-loss (SL). Over the last three weeks—specifically on Sunday, the 4th, 11th, and 18th—BTC has closed with red candles, highlighting the strength of the bears, who appear to be preparing for the upcoming week by selling BTC. There's no indication this week will be any different, so consider holding long positions until Sunday, then look into taking profits or even shorting. Weekly (W) : For the fourth week in a row, we’re holding the $58.2 level. Wicks are attempting to push lower, but the bulls remain strong. This still allows some room for a bullish scenario if we can break and hold the $63.1 level. However, with a potentially difficult September ahead, there's little to suggest extreme optimism towards this risky and still relatively alternative asset. No divergence observed. Daily (D): The main event on the daily timeframe is BTC’s escape from the daily range and breaking the Bollinger Bands moving average (BB MA). However, if we consider more recent daily levels, the trading range widens, and BTC has yet to break out of it, with resistance at $61.6. No divergence observed. 4-Hour (4h) : No divergence or signs of a reversal. BTC is approaching its sixth attempt to break the $61.6 resistance. 1-Hour (1h): Showed some weakness in its attempt to break and stay above $61.6, as bears activated and pushed it down. It’s now trading below the BB MA. Alts Relative to BTC: Altcoins have been pumping at twice the rate of BTC. NEAR, SUI, APT, TAO, and FTM are all up by 4-7%. This growth is expected to continue through Friday and into the weekend. Bull Case: Same as yesterday. We believe BTC has found its bottom, and once more liquidity flows into the market, possibly following an interest rate cut, BTC will rally. The combination of the last week of August, followed by a small correction, could lead to further gains. Bear Case: The economy may be in worse shape than anticipated, and even with four interest rate cuts by the end of the year, we could still be in a recession. Fear and Greed Index: Currently at 48.45, slightly lower than yesterday’s 49.59. This is surprising, given that BTC has been on the rise for the last three weeks since the crash. Prediction: Expect growth in the last week of August, followed by a slump in the first two weeks of September, and then a downturn. Opportunities: On the weekly (W) and 4-hour (4h) charts, watch for divergences in major alts like BINANCE:NEARUSDT NEAR, BINANCE:APTUSDT APT, BINANCE:ARUSDT AR, $BINANCE:RNDRUSDT RNDR, BINANCE:TAOUSDT TAO, and BINANCE:FTMUSDT FTM. All have RSI above 70. Wait for Friday to see if MACD divergences emerge as this initial push weakens and they approach weekly resistance levels.
COINBASE:BTCUSD
by EvgenCapital
Trade Setup: NEAR Long PositionMarket Context: NEAR is consolidating at support, offering a potential opportunity for a long trade if the support level holds. Trade Setup: Entry: Long spot trade at around $3.85. Take Profit: First target: Top of the range support at $4.45 Second target: $5.35 - $5.90 Third target: $6.50 - $7.00 Stop Loss: Just below $3.50. 📊 Manage risk carefully, and monitor price action for confirmation of support holding. #NEAR #CryptoTrading #TradeSetup 🎯
Long
by Richtv_official
Aug 19 and week's overview.Overview: The weekend passed without significant CRYPTOCAP:BTC price movement, holding the daily level at $58.2k. On Monday, bulls rallied, managing to push the price up to $58.4k, signaling a potentially bullish week ahead. This renewed buying interest could be attributed to the VANTAGE:SP500 closing with a strong +1% gain, reminding traders of the generally positive performance of stocks in August, though caution is warranted as September and October tend to be more turbulent. CRYPTOCAP:BTC has bounced off the $58.2k level roughly five times in the last eight days. This marks the second correction week after BTC’s 30% crash, with a 23% recovery so far, suggesting a possible rally towards the next weekly level of $63k. Trading within this midrange is risky, as the price could move in either direction. Tight stop-losses (1-1.5%) and modest take-profits (3-3.5%) are advisable. Global Liquidity: Growing, which is bullish. Open Interest: Declining, but Monday saw increased capital commitment, indicating short-term bullishness. Last week ended with a small-bodied red candle, which is neutral to bearish. A similar pattern was seen in late May 2021, where a brief 18% rally was followed by a 30% decline. Weekly: Range trading with no divergence. Daily: Monday approached the BB MA, and early Tuesday broke above it, trending upward with a potential 3.7% gain. The current candle is still forming, so it's unclear if this is a genuine breakout or a false move. 4h: No significant changes or divergences. 1h: Increasing volume suggests the current upward trend is strengthening, though the RSI is in overbought territory above 70. If the RSI forms a double top near $63.1, it could be a shorting opportunity. Alts Relative to BTC: While BTC has broken above the BB MA, altcoins have only cautiously approached it. Retail traders seem to have caught on to Grayscale’s announcement of new trusts for NYSE:SUI and GETTEX:TAO , with GETTEX:TAO up 17% in the last four days, as we anticipated in our August 11th analysis. Bull Case: BTC continues to rally towards $62-63k, completing the recovery from the recent crash. Bear Case: Swing traders may turn bearish and start selling off. Fear and Greed Index: Rising, currently at 46.14 since August 16th. Prediction: BTC is likely to rally to $63k, with altcoins like NYSE:SUI , AMEX:NEAR , AMEX:APT , NYSE:AR , and GETTEX:TAO potentially gaining 7-10%. Opportunities: AMEX:NEAR : Approaching its weekly resistance at $4.38, offering a potential 6.45% gain. UPCOM:FTM : Has reached its weekly resistance at $0.4. Also, do you remember DeFi? ASX:MKR and BME:UNI , which are trading at pre-BTC ETF demand levels despite their strong fundamentals. They are actually earning hard cold cash, proving a use case for crypto: In July ASX:MKR earned fees: $19.7m, revenue of $7.54m; Aave fees $29.4m, revenue of $4.78m; and Uni collecting $47.7m in fees with no revenue provided. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
NEAR (NEAR Protocol): Channel DownTrade setup : Price is in a Downtrend, trading in a Channel Down pattern. Swing Traders : can trade the Channel - enter near channel support and exit near channel resistance. Trend traders : wait for price to break out of the Channel Down pattern, back above 200-day moving average and $6.00 resistance to signal bullish trend reversal, with +30% upside to $7.70 thereafter. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) - initiate a trade when the price breaks through the channel's trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $3.50, then $3.00. Nearest Resistance Zone is $4.40, then $6.00.
Long
by altFINS
1
Aug 17Overview: The cryptocurrency market is currently in a cautious phase. Weekends typically see minimal price swings, though Sunday evenings can bring volatility. Declining open interest suggests a lack of confidence, with traders closing positions and exiting the market. The August 5th liquidations also pushed remaining traders to leave, further reducing market participation. This environment points to continued consolidation, with potential for volatility as the weekend ends. Looking back at BTC’s weekend price action, similar patterns emerge: a crash, a small rebound, approaching the Bollinger Bands moving average (BB MA), and then continued decline. Bearish scenarios include January 15-16, 2022; June 5-6, 2022; and more recently, June 29-30, 2024. A bullish argument is found in May 11-12, 2024, when Saturday and Sunday marked the end of the first bull wave and the start of the second in 2024. However, that was 33 days after the downturn began, while we are currently at day 20. This past week may have been the calm before the storm. Alts Relative to BTC: No divergences. Bull Case: Everyone who wanted to sell has likely sold. Now we wait for an event to trigger a buying spree that could draw a 4th wave on the CRYPTOCAP:BTC chart. Bear Case: No bulls come to the rescue, and the market drops further. Fear and Greed Index: 44.9, rising over the last two days, but given the weekend, it may not carry much weight. W: Range trading, no divergences. D: Reached BB MA and is touching it at $59.9k. 4h: Approached $60.2k for the second time but couldn’t break that daily level. We’re also at the top of the Bollinger Bands range, which is relevant for those trading sideways movements. No divergence. 1h: No divergences, but there’s a bullish inverted head and shoulders pattern. Prediction: Most likely move down significantly, or range trade, then decline. Opportunities: CRYPTOCAP:SOL : Attempting to break the weekly resistance level. NYSE:SUI : Bounced from support and is now trending upward. NYSE:AR and CRYPTOCAP_OLD:RNDR : Sitting on the weekly level; their next move will be quick, so choose your side. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
5
Aug 16Overview: The TradFi week is over, and the VANTAGE:SP500 is now just 1.86% away from its all-time high, nearly recovering from the impact of Japan's rate increase. However, CRYPTOCAP:BTC hasn't experienced the same positive price action. It seems big money is feeling more confident in U.S. blue chips than in speculative assets like Bitcoin. So, who will push BTC to $100k? Maybe not this time. Last week, we saw a crash followed by a recovery, but this week the market remained stagnant. It seems to have found a range between $55.9k and $63.1k and might bounce within this range a few more times. Alts Relative to BTC: On August 16th, CRYPTOCAP:BTC grew by 1.70%, but CRYPTOCAP:ETH only by 0.83%, while CRYPTOCAP:SOL dropped by 2.45%, AMEX:NEAR by 1.32%, AMEX:APT by 5.10%, and UPCOM:FTM by 4.59%. As of now, CRYPTOCAP:BTC has continued to grow, but alts haven't recovered at all. It appears that both whales and retail investors (but mostly whales) don't have much faith in an altcoin summer, which also puts CRYPTOCAP:BTC on shaky ground. Bull Case: We're still trading within a range and haven't touched the $63.1k resistance for a second time. The VANTAGE:SP500 continues to grow along with the economy, with expectations of four rate cuts ahead. Bear Case: But with September approaching, some big players will re-enter the market. Historically, September has often seen more stock market declines than gains. Fear and Greed Index: 43.62, slightly higher. W: Range trading. D: Neutral, no divergences. 4h: Even though we've recovered to the highs of August 15th, volume is weak, and we haven't broken through $59.7k. 1h: Divergence. We've hit this resistance for the third time. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
Alikze »» NEAR | C wave correction leg🔍 Technical analysis: C wave correction leg - It is moving in a descending channel in daily and weekly time. - At the last stage of correction, it can extend to the area of ​​the bottom of the channel and the green box. - Therefore, considering that it has faced selling pressure in the middle of the channel, if the supply zone does not fail, the correction will continue up to the specified zone and Fibo 1.618. - The range of 2.479 to 2.768, if faced with demand, can provide a suitable area for buying and a return to the middle of the channel. - This zigzag correction, if it is not combined and complex, can continue the upward trend after completing the last corrective leg, according to the behavioral scenario presented in the previous post. 💎 Alternative scenario: In addition, if it can meet the demand in the middle of the channel, it can have a temporary growth up to the ceiling of the supply range of the channel. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:NEARUSDT
Short
by alikze
Aug 14Overview: The market is currently at a stalemate, which isn’t surprising after last week’s 15% crash. Since 2009, CRYPTOCAP:BTC has only experienced a drop of more than 15% around 10 to 15 times. We’re receiving contradictory macroeconomic news: on one hand, predictions of a long-awaited recession in the U.S. are surfacing, with major corporations reporting diminishing returns and U.S. consumers already feeling the pinch, as grocery prices have jumped by 50-70%. On the other hand, Lord Jerome reports the year-over-year CPI at 2.9%, lower than the expected 3.0%. BTC ETF flows reported $81 million in selling, indicating that ETF investors aren't interested in BTC at 58.5k. However, just two days earlier, there was a positive flow totaling $66 million. Demand for NYSE:SUI via Grayscale has stalled, with a 20% decline from recent highs in the last two days, although it's still up 44% since the August 8th news. GETTEX:TAO , on the other hand, has only seen about one-sixth of that demand, rising just 7% to date. Is this the cost of not being listed on Coinbase? Alts Relative to BTC: No divergence observed. CRYPTOCAP:ETH , CRYPTOCAP:SOL , and AMEX:NEAR mirrored BTC’s correction of 5.22%, each declining by 6-7%. Bull Case: The S&P 500 continues to climb, nearing previous levels (only 3.81% away from its all-time high after a 9.44% drop). Jobless claims numbers came in lower than expected, signaling improving economic conditions and possibly taking a recession off the table. Global liquidity has stabilized over the last three days. Bear Case: None of the above factors support risky asset prices, and BTC loses its ETF demand support, potentially plummeting to 41.2-43.8k. Fear and Greed Index: 42.9, decreasing and edging toward Fear territory—where long red candles and even longer wicks reside. W: Mid-range, in accumulation territory, curving downward. While last week’s crash candle ended green, this week has shown a lower high and may close below the opening, potentially turning red. Only 3.54% separates us from the weekly support level, which could be tested in the next four days. No divergence. D: On August 14th, BTC touched the BB MA and bounced down, closing in red and re-entering the previously established $60.2k - $58.2k daily range. However, on the 15th, it already broke out of that range and may close outside of it. If the 15th closes in red, this week could be in trouble, opening the door to a drop toward 56k. 4h: After rejecting 61.7k, BTC crashed through the BB MA. This -5.5% correction was accompanied by a significant MACD divergence. To continue the existing trend, a bounce back up with bullish demand was needed, but no buyers stepped in, and the next 12 hours saw continued decline, currently trading slightly below the 58.2k daily level. 1h: A red candle at 2am on August 15th showed a dangerous increase in volume compared to the previous two red candles. With U.S. bulls sleeping, there may be no support at this level, risking a free fall. Prediction: With the lack of support from Asian bulls, we are likely to fall below 58k, and only unexpectedly positive news from Jerome Powell might keep BTC within the daily range, above 58k. Opportunities: CRYPTOCAP:SOL : Dropped below the weekly support level of $146.3 and seems to be declining, solidifying it as a new resistance. Opportunity to short to $130 (7.94%). AMEX:NEAR : Retreated from the weekly level of $4.39 and is on its way to $3.3 (19%). NYSE:SUI : Rejected the weekly level of $1, with the next stop at $0.8 (-10%), which coincides with the BTC ETF demand level. AMEX:APT : Rejected the weekly level. NYSE:AR : Holding on by a thread above a 58% abyss to the BTC ETF level, with no intermediate stops. NYSE:ENS : Expected to mirror ETH's performance, potentially doubling whatever CRYPTOCAP:ETH does. Mistakes: Yesterday’s 4h BTC divergence became apparent at noon (UTC-4, NY time) after a red candle appeared. As of now, at least 2.40% could have been captured. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
NEARUSDT.1DNEAR/USDT has shown a volatile price movement since the start of 2024, with a significant rise followed by a series of corrections. As of the latest data, NEAR is trading around $5.709. The chart displays a descending triangle pattern, characterized by a flat support line at approximately $4.253 (S2) and a downward sloping resistance line. Technical Analysis: Support Levels (S1 and S2): S1: The first support level at $5.150 has been tested multiple times since early July 2024 and has shown resilience. This is a crucial area as a consistent breakdown below this level could push prices towards the second support. S2: The second support level at $4.253 represents a more significant low from late May and early June 2024. A break below this could signal a strong bearish trend. Resistance Levels (R1 and R2): R1: The first resistance level at $5.961 marks the recent peaks. Overcoming this resistance might lead to testing the upper resistance. R2: The second resistance at around $6.500 corresponds to the descending trendline. A break above this level would be crucial and could indicate a potential reversal or pause in the prevailing downtrend. Moving Average Convergence Divergence (MACD): The MACD line is just above the signal line, indicating a weak bullish momentum. However, the histogram is very close to the zero line, suggesting a lack of strong momentum in either direction. Relative Strength Index (RSI): The RSI stands at 57.18, indicating neither overbought nor oversold conditions. This level suggests a balance between buying and selling pressures but leans slightly more towards buying momentum. Conclusion: Currently, NEAR/USDT is in a critical phase. The presence within a descending triangle pattern usually indicates potential downward pressure. For traders, key strategies would involve watching for a decisive break either above the R1 or below S2 for clearer directional bets. Holding positions may be risky without tight stop losses, especially near these critical levels. In the event of breaking above R1, consider re-evaluating the resistance at R2, as a breakthrough there could shift the market sentiment more positively. Always ensure risk management practices are in place, given the inherent volatility in cryptocurrency markets.
by MarsSignals
NEAR (Near Protocol): Resistance BreakoutTrade setup : Price broke back above the 200-day moving average (~$5.46), which signals resumption of Uptrend. It's also broken above $6.00 resistance, making a higher high, a sign of uptrend. Price could revisit $7.70 next. We would be buyers on pullbacks to support zone between 200-day moving average of $5.50 and $6.00. Stop Loss at $5.10. Price could revisit $8.00 thereafter. Pattern : Resistance Breakout . Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume it's advance. Following a resistance breakout, the next closest resistance zone becomes a price target. Learn to trade key level breakouts in Lesson 7. Trend : Short-term trend is Up, Medium-term trend is Up and Long-term trend is Strong Down. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $4.60, then $3.50. Nearest Resistance Zone is $6.00, then $7.70.
Long
by altFINS
Trade Setup: NEAR Long PositionMarket Context: NEAR is trading above the 200-day EMA, setting a higher low after a change of character (CHOC). The price has reclaimed the range low as support and is trading between the 200-day and 21-day EMAs. This setup indicates a potential for consolidation followed by a breakout. Trade Parameters: Entry: Enter a trade around $5.4 to $5.8. Take Profit: First target: $6.5 Second target: $7.46 Third target: $8.4 Stop Loss: Set at a daily close below $5 📊 Monitor the 4-hour chart for a breakout to confirm the trade. Adjust the trade based on market conditions and stay vigilant for any signs of reversal or further consolidation. #NEAR #CryptoTrading #TradeSetup 🎯
Long
by Richtv_official
NEAR (NEAR Protocol): Resistance BreakoutTrade setup : Price broke back above the 200-day moving average (~$5.46), which signals resumption of Uptrend. It's also broken above $6.00 resistance, making a higher high, a sign of uptrend. Price could revisit $7.70 next. We would be buyers on pullbacks to support zone between 200-day moving average of $5.50 and $6.00. Stop Loss at $5.30. Price could revisit $8.00 thereafter. Pattern : Resistance Breakout . Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume it's advance. Following a resistance breakout, the next closest resistance zone becomes a price target. Learn to trade key level breakouts in Lesson 7. Trend : Short-term trend is Up, Medium-term trend is Neutral and Long-term trend is Strong Down. Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $4.60, then $3.50. Nearest Resistance Zone is $6.00, then $7.70.
Long
by altFINS
NEAR protocol on the WEEKLY NEAR is a project that covers all the bases. A Web3 Layer 1 with the capability for unlimited transactions per second (TPS) that's transparent and accessible to everyone. NEAR protocol has begun venturing into the AI space pushed by Co-Founder Illia Polosukhin who is an AI researcher himself, with an AI marketplace as he believes AI is one of the core verticals for the NEAR ecosystem going into the future. The near chart is a promising one for the future. Having already experienced the 2022 altseason, we can gauge where NEAR will meet resistance, and sellside pressure areas and of course previous ATH. Using Fibonacci levels combined with range quarters we can split up an otherwise daunting chart into sections of a large range. Since the rally began in the beginning of 2024 price has broken above the 0.75 line and has been retested for support, of which it held and is now key support. With BTC's rally on the recent CPI numbers, the stronger altcoins followed suit and now NEAR is targeting the MIDPOINT of the range at $10.72 (0.5 level). From then on there is a clear FVG resistance before hitting the highs. I have used the Fib levels as long term Take Profit areas, who knows how long it may take to get there or even if we get there at all. However the fundamentals of the Project are very strong, with a great team and expanding into high interest narratives like AI all add up to a very promising project. The one downside is that circulating supply is not capped and will grow at 5% each year. Therefor the tokenomics are not as favourable to investors as for example Injective INJ which has a capped at 100,000,000 coins and currently has 94% of that circulating and that limits dilution of token value. I'm very bullish on NEAR in the long run, the current LTF bearish pullback has been punishing for the majority of alts however NEAR has held up very well. The AI narrative backing it as well will surely help it progress and the accessibility of being available on all the major exchanges.
by ProR35