Most traders pile into a clean 1H breakout like this one on $NEAR and assume the trend is locked in, but those are usually the entries that get reversed the fastest.
You end up buying the local high around $4.17 after the impulse, then the pullback hits and you're left holding bags while wondering if you should have waited. That's how people lose money chasing what looks like easy continuation.
$NEAR broke out of its prior range and is sitting near $4.17 right now with a defined demand zone from $3.74 to $3.85 underneath. That's the floor where buyers previously absorbed selling, so any dip there would be the structural retest before a potential second push.
The risk is that this corrective move could overshoot if broader markets like $BTC or $ETH start rolling over at the same time. I've seen plenty of these setups fail the retest and turn into full retracements instead.
What's your take on waiting for that $3.80 retest versus buying the highs here?
#NEAR #TechnicalAnalysis #Crypto
You end up buying the local high around $4.17 after the impulse, then the pullback hits and you're left holding bags while wondering if you should have waited. That's how people lose money chasing what looks like easy continuation.
$NEAR broke out of its prior range and is sitting near $4.17 right now with a defined demand zone from $3.74 to $3.85 underneath. That's the floor where buyers previously absorbed selling, so any dip there would be the structural retest before a potential second push.
The risk is that this corrective move could overshoot if broader markets like $BTC or $ETH start rolling over at the same time. I've seen plenty of these setups fail the retest and turn into full retracements instead.
What's your take on waiting for that $3.80 retest versus buying the highs here?
#NEAR #TechnicalAnalysis #Crypto
