NEO has just ended the motive wave B in an ABC-correction and is entering the wave C.
Time to take profits (for short term traders).
I expect the end of the wave above the supportlevel 73$ (fib retracement 23.6%) but below the last turning point from w A to w B.
The new downtrend is confirmed by the indicators. RSI has crossed the ascending trend line, DI+ has fallen below DI-.
We´ll have new buy opportunities when the correction is finished.
I drew a theoreticle 12345 motive wave.
This no trading advice!!
Time to take profits (for short term traders).
I expect the end of the wave above the supportlevel 73$ (fib retracement 23.6%) but below the last turning point from w A to w B.
The new downtrend is confirmed by the indicators. RSI has crossed the ascending trend line, DI+ has fallen below DI-.
We´ll have new buy opportunities when the correction is finished.
I drew a theoreticle 12345 motive wave.
This no trading advice!!
Trade active:
NEO in wave C !
But with BTC and ETH also entered in correction mode it is possible that we´ll see a continuation in wave D and E (marked at dotted lines).
But with BTC and ETH also entered in correction mode it is possible that we´ll see a continuation in wave D and E (marked at dotted lines).
Trade active:
Trade active:
be prepared for turnaorund!
Trade closed: target reached:
The wave e could lead to the fib retracement or even below - parallel to the point of motive wave IV.
NEO hasn´t broken the long down trend (dotted line)! To give more bullish signs it had to break this resistance!
Actually it is going to lower level.
This negative trend is confirmed by RSI and ADX.