【The market is waiting for a snap, and so is NEAR】
When Bitcoin hit $ 84000 last night, how many people thought it was about to take off? And what happened? Less than an hour later, it got pushed right back down. Now it’s hovering around $ 83000, and the grind is making people nervous.
NEAR is at $ 5.14 right now, up 2% in 24 hours and 2% over 7 days. What do you call that? No direction. 5.28 is holding it down from above; 4.84 is holding it up from below. It’s sandwiched between the two, like a filling in a cookie.
CPI comes out tomorrow, and all the big money can do right now is wait. Retail traders? Some think, “It’s already down 75%—what more do you want?” Others think it still has further to fall. Those two mindsets are colliding, volume is picking up, but the price just isn’t moving.
You’re asking what I think?
I saw this kind of market back in 2021, too. It’s not that the market doesn’t want to move; it’s waiting for a reason. Waiting for CPI, waiting for a catalyst. If you jump in now and get the direction right, great—but what if you get it wrong? If 4.84 breaks, that’s another leg down.
The valuation really is low, but markets have never gone up just because something is cheap. You need buyers, a story to tell, and money flowing in—and none of those conditions are in place right now.
What’s my mindset right now? I’m sitting on the sidelines. I’ll see what happens after CPI. If it breaks below 4.84, I’ll accept it; if it holds, I’ll wait. I’m not going to jump in just because it looks cheap. I didn’t pay tuition back in 2017 for nothing.
What about you? How are you feeling right now? Does this kind of stuck-in-the-middle market make your fingers itch?
When Bitcoin hit $ 84000 last night, how many people thought it was about to take off? And what happened? Less than an hour later, it got pushed right back down. Now it’s hovering around $ 83000, and the grind is making people nervous.
NEAR is at $ 5.14 right now, up 2% in 24 hours and 2% over 7 days. What do you call that? No direction. 5.28 is holding it down from above; 4.84 is holding it up from below. It’s sandwiched between the two, like a filling in a cookie.
CPI comes out tomorrow, and all the big money can do right now is wait. Retail traders? Some think, “It’s already down 75%—what more do you want?” Others think it still has further to fall. Those two mindsets are colliding, volume is picking up, but the price just isn’t moving.
You’re asking what I think?
I saw this kind of market back in 2021, too. It’s not that the market doesn’t want to move; it’s waiting for a reason. Waiting for CPI, waiting for a catalyst. If you jump in now and get the direction right, great—but what if you get it wrong? If 4.84 breaks, that’s another leg down.
The valuation really is low, but markets have never gone up just because something is cheap. You need buyers, a story to tell, and money flowing in—and none of those conditions are in place right now.
What’s my mindset right now? I’m sitting on the sidelines. I’ll see what happens after CPI. If it breaks below 4.84, I’ll accept it; if it holds, I’ll wait. I’m not going to jump in just because it looks cheap. I didn’t pay tuition back in 2017 for nothing.
What about you? How are you feeling right now? Does this kind of stuck-in-the-middle market make your fingers itch?