$NEAR This bullish sentiment is clearly getting overheated.
Even though the 1-hour structure is strong, the price is riding the BOLL upper band, and the MACD maintains a golden cross, the RSI has shot up above 88. At this level, it often indicates not a continued moonshot, but a potential hard brake at any moment.
The key factor here is the liquidation map.
Above 2.08, the shorts have mostly been cleared out; as we push higher, the 'fuel' available for the whales to feast on is dwindling. Conversely, down around 1.75, there's still a hefty stack of long liquidation zones.
A lot of smart money entered near 1.4, and now profits are looking juicy. At high levels, the most common occurrence is a change of hands.
Personally, I lean towards:
Above 2.08 is likely a trap for longs, and a short-term pullback is high probability.
First support to watch is at 2.017; if that level breaks, we’re likely heading back to around 1.9 to find some buying support.
The risk-to-reward ratio for chasing longs now is pretty poor; I’d rather wait to consider a dip buy around 1.8—1.9.
#ENAR #BTC
Even though the 1-hour structure is strong, the price is riding the BOLL upper band, and the MACD maintains a golden cross, the RSI has shot up above 88. At this level, it often indicates not a continued moonshot, but a potential hard brake at any moment.
The key factor here is the liquidation map.
Above 2.08, the shorts have mostly been cleared out; as we push higher, the 'fuel' available for the whales to feast on is dwindling. Conversely, down around 1.75, there's still a hefty stack of long liquidation zones.
A lot of smart money entered near 1.4, and now profits are looking juicy. At high levels, the most common occurrence is a change of hands.
Personally, I lean towards:
Above 2.08 is likely a trap for longs, and a short-term pullback is high probability.
First support to watch is at 2.017; if that level breaks, we’re likely heading back to around 1.9 to find some buying support.
The risk-to-reward ratio for chasing longs now is pretty poor; I’d rather wait to consider a dip buy around 1.8—1.9.
#ENAR #BTC