NEO about to launch?

Increased activity on NEO suggests that buyers are accumulating positions in anticipation of a breakout move to the upside.

Accumulation at support at .002730
Stoch RSI is OVERSOLD

4hr Chart
False break of support, which is a bullish sign

1hr Chart
1hr pinbar rejecting support

Trade Management
Enter: Up to 2730
TP1: 3314 (20%)
TP2: 3910 (43%)
TP3: 4400 (60%)
TP4: 4900 (79%)

As usual, this assumes that BTC continues moving higher. If BTC slumps again, most alts will also take a dive.

Good luck!

Comment:

Price has taken a drop in-line with Bitcoin and has now broken below the short term support line.

Expect price to retest the resent low at 2430.

Price will likely head to the descending channel low that is more clearly seen on the 4hr chart.

Comment:

Comment:

So for now we wait until the a test of the lower channel.

Trade active:

A lot of volume activity starting to happen.

Trade opened at 2715

Comment:

I noticed that there is highly confluent resistance around 3900 so take profits slightly before this level.

- Previous SR
- Fibo 38% retracement
- 50 MA