$NEAR Is Coiling Like a Spring β And Someone's About to Get Wrecked β‘π―
They've been squeezing
$NEAR into a descending wedge for weeks, tightening the range until breakout becomes inevitable. The setup looks friendly on the surface β but wedges like this are where late shorts get harvested.
Price is sitting right on the lower wedge boundary near 1.4 on the weekly. The compression is real. Candles are getting tighter, momentum is quietly building under the hood. π
Here's where it gets interesting:
Above 1.5 and the wedge resolves bullish β trapped shorts start fueling the move and it gets ugly fast for them. Below 1.4 and the bid structure collapses, bags get repacked, and the next meaningful floor is back around 1.35. π
The weekly candle behavior is telling. No aggressive rejection off the lower boundary β price is just sitting there, absorbing. That kind of calm near support usually means accumulation, not exhaustion. π₯ Smart money doesn't panic at these levels, it waits.
The H8 candles show the squeeze tightening even further, which means the explosion is close. Both directions are live β but the path of maximum pain right now points up. π
Late shorts are positioned exactly where they shouldn't be.
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