R.Linda Trading - forecast

Trading signals for #NEARUSDT → Double bottom and range breaking

CRYPTO forecast
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NEAR forms several key setups which are quite strong prerequisites for further growth. What to expect from the price?

A double bottom is forming at the level of 1.229. The formation period is 7 months. Price is accumulating a huge amount of energy during this period while a range (consolidation) of 1.229-2.596 is forming.

At the same time the price breaks the resistance of the descending wedge. In that case, if the bulls hold their positions above the previously broken line, we will see a rise to the upper boundary of the range in the medium term. A breakout of 2.596 will take the price to 3.361.

The moving averages are still as resistance, but MA-50 has been tested and may be broken soon.

Support levels: the previously broken range boundary, the level of 1.229

Resistance levels: MA-50, 1.800, MA-200

I expect predictable reaction from the bulls. A consolidation above the previously broken line will form an entry point to long positions, and after that I will wait for an increase to resistances