NEAR Targets $40 - Cup & Handle Play
This cup and handle play for NEAR shows a potential bright few months ahead for the bulls if BTC keeps its head above water.
Fibonacci extensions for the pattern are showing a potential 0.5x to 1.5x return from a $17 entry (being $30 and $40, respectively).
The handle is developing nicely from the establishing bull flag which, in itself, should take NEAR to $30 in measuring the length of the preceding bullish trend from $7.39.
Further, the handle appears to have finished it's 38.2% retrace from the cup lip, demonstrating plenty of support at $15 and strong upwards momentum.
I can't ignore a long play on this technical setup. Expecting to hold until August-September (conservative) for the second $40 target.
Fibonacci extensions for the pattern are showing a potential 0.5x to 1.5x return from a $17 entry (being $30 and $40, respectively).
The handle is developing nicely from the establishing bull flag which, in itself, should take NEAR to $30 in measuring the length of the preceding bullish trend from $7.39.
Further, the handle appears to have finished it's 38.2% retrace from the cup lip, demonstrating plenty of support at $15 and strong upwards momentum.
I can't ignore a long play on this technical setup. Expecting to hold until August-September (conservative) for the second $40 target.
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