Technical analysis by HeftyBreadRoll about Symbol NEAR: Buy recommendation (8/24/2024)

Chart description- Potential finished WXY (wave B)- Daily close above 50SMA(d), 3d close would signify bullish case- RSI trend crossing (micro)- Long setup with initial target w3 target Price is moving impulsively, and w3 target at 1.618fib is still 30% higher then current price lvls.NEAR's price action is still moving within a base channel. Waiting for confirmation, if invalidation lvl(s) get hit/broken, we're looking a corrective structure.Quick look. Structure can still unfold in a 1-2, 1-2 or a larger ABC (WXY). Forsee, a potential nice short setup (will follow-up).Possible reversal. RSI divergence(s) 1h/4h. Long setup RR 3:1.Looks like we're in for some BTC action (15min).Altered ew count. Idea for a counter short position RR 6:1T1 (.618fib) reached. T2: 54k for is on the table. Would personally target 55k (1.23fib ext. taken from w3-4)NEAR looking strong. Price moved outside the channel. If we can break above $5.27 that should solidify the bullish case.If BTC breaks 65k then w4 is finished.Have this primary BTC scenario in mind.Keeping it simple. If BTC can break 64.5k then wave C is finished (w4) and we're looking at a potential w5 in the making. **My chart displays a 1-2,1-2 setup, but probabilities are low. For that, we need see some volume. MACD(4h) could go first a bit lower to finished w5(2) before a ZLR to support w5(3). Either way, I want BTC to take out 65k.Update BTC:If NEAR's price can break $5.70 (1.618fib ext.) then it invalidates a c-wave. Fingers crossed.Current view on NEAR.BTC update.