AzizKhanZamani

NEARUSDT Elliot Wave| ABC Correction| Price Action| Trend

Short
BINANCE:NEARUSDT   NEAR / TetherUS
Evening Traders,

Today’s analysis – NEARUSDT- trading in a potential Elliot Wave where a correction is probable,

Points to consider,
- Price Action Impulsive
- Wave 5 Completion
- ABC Correction
- Low Volume
- RSI Bullish Control

NEARUSDT’s immediate price action is trading in an Elliot Wave structure completing a potential WAVE 5 for an ABC Correction.

The current volume profile is below average, an influx is highly imminent on the next expansion.

The RSI is current trading in its bullish control territory, breaking below its 50-Mid Line is indicative of weakness.

Overall, in my opinion, NEARUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

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