This looks great from my perspective on $NEAR.
Slight correction on the markets and immediate bounce upwards and further consolidation.
$ZEC shows its strength as well, which means that we're likely going to be seeing more strength across the board.
#Bitcoin consolidation = money flows back to the strong runners prior to the correction, which means that I wouldn't be surprised to see assets like $NEAR run back towards the highs in the coming weeks.
BITCOIN IS RAPIDLY APPROACHING $59,000 HEADING INTO THE WEEKEND
BUT I'M STILL MAINTAINING MY $9,000,000 SHORT POSITION ON THE CRYPTO MARKET
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🚨 BREAKING
🇯🇵 JAPAN JUST DUMPED ¥184,800,000,000.00 IN FOREIGN BONDS, MOSTLY U.S. BONDS!
ONE OF JAPAN'S BIGGEST CAPITAL OUTFLOWS IN RECENT YEARS...
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$BTC
Swing highs to lows... will do for now
Wanting to see how the market settles.... if it rolls again during asia - longs come off - shorts run - vice versa if it sticks... heavy sell delta at the lows...
It is what it is...
Cheers
$NEAR didn't provide the strength that I wanted it to.
First trade was a profitable one, the second trade unfortunately my stop got hit.
That means, the gameplan isn't really changed, despite the fact that I won't be looking for a daytrade until there's a lower timeframe regime change.
This might come in the next few days, however, I won't be chasing it as of yet.
The markets are as they are and sometimes you need to wait sidelined until the trade comes to you.
On that aspect;
- I'm interested into the flip of €2.00 to be going for a potential trade on this one. It's clearly not showing momentum yet, which means that the downtrend isn't interesting for long positions yet.
I'm also not eager to be shorting this asset at this point, as the markets are clearly going to be allocating liquidity back into this asset when Bitcoin is looking to be going up again.
- I'm interested into scaling back into the portfolio the moment this drops into the lower regions. I don't think it's favourable, however, it looks to be that we're looking to be adding into it when it gets there in the upcoming week.
That also resonates with a reasoning of selling more next time we're having such a run, and in trading, this remains to be the balance, right?
Anyhow, all good, I do expect the markets to be going upwards from the area here in the coming period, so there's not much to worry at all and still favoring longs over shorts.
XRP just broke another major support level
High-volume selling picked up late in the session as the months-long compression pattern finally breaks lower.
Watch this closely. 👀
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