TradeCityPro | NEARUSDT Calm before the storm
2025-01-11
Category: None

👋  Welcome to TradeCityPro Channel! 
Let's go to a day when financial markets are closed and update one of our previously analyzed altcoins, NEAR, and find new triggers together.

Scroll Down to Check Out the Analytical Chart as Well!

🌐  Overview Bitcoin 

Before starting our analysis, as always, let’s check Bitcoin in the 1-hour timeframe, where the candles have become significantly smaller, the range of our fluctuations has narrowed, and the 1-hour candles now show 0.2% fluctuations.

This observation, along with our hourly volume, indicates that there is practically no movement, and no one is deciding to trade. For now, it’s better not to make any decisions and just observe the market from a distance. 

However, this doesn’t mean abandoning the market entirely and coming back to the chart only after the market moves.


🕵️‍♂️  Previous Analysis 

In our previous analysis uploaded to the channel last month in the weekly timeframe, it can be said that almost nothing has happened. 

Our spot entry triggers were not activated, and we were simply rejected from the $8.289 resistance, fluctuating within the $3.73 to $8.28 range.


📊  Weekly Timeframe 

In the weekly timeframe, as we said, nothing special has happened to our chart. Currently, we are simply ranging within the weekly box, and breaking the support or resistance of this box can result in a sharp move.

This week's weekly candle has one day left to close, and if it stays like this, it will engulf the previous two candles, suggesting that we are moving towards the $3.73 support.


📈  Daily Timeframe 

In the daily timeframe, we are also in a smaller box than our main box, ranging between $4.88 and $6.05, where it might range for a while.

On the other hand, the $6.057 resistance can be considered a risky but promising trigger for spot buying, considering that the resistance at the top of the box, or $8.289, is likely to be broken sharply and whale-like.

For exiting this coin, I currently suggest doing so below $3.544. Personally, after breaking $4.883, I prefer to open futures positions rather than sell my spot coins.

If you pay attention to the $4.883 support, it is the 0.618 Fibonacci level, which is highly significant for our trend. If we rise from this level and break the $6.057 resistance, we can start a good upward move.


⏱  4-Hour Timeframe 

In the 4-hour timeframe, after being rejected from the $6.058 resistance and printing a red candle, we moved back towards the $4.914 support. Currently, it can be said that we are stuck in a box ranging between $4.914 and $5.156.

📉  Short Position Trigger 
our trigger is entirely clear, and after breaking $4.914, we can open a short position, targeting $4.5 and $4.05.

📈  Long Position Trigger 
however, currently, both the volume is very low, and the chart has a very bearish vibe. But if we continue ranging in this short-term box and the sellers lose strength, staying here for a long time, or faking the $4.914 support, after breaking $5.156, we can open a long position—but with a small stop loss and quick profit-taking.


📝  Final Thoughts 

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️