. There is a possibility of temporary retracement to suggested support line (0.001300). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NEOBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
Monfex is at your service and today we overview NEO/BTC, log scale.
NEO is in the falling bullish wedge and has MA100 near resistance line. It's with a bullish divergence by RSI.
Support, buy zone ~ 0,000850
Target zone ~ 0,001500
Stop lose - 0,000820
Almost 2X in this trade.
Breakout of the resistance line will be the best confirmation of...
TIME TO UPDATE WHATS HAPPENING WITH CURRENT POSITIONS.
BITCOIN IS BEING PUMPED AND DUMPED CONTINUOUSLY MEANING THAT COINS WILL GO BACK TO PREVIOUS LEVELS AND SOME OF THEM WILL BE DUMPED AS PEOPLE DONT KNOW WHAT TO DO.
NEO IS WORKING IN THE REGION PREVIOUSLY EXPLAINED BEFORE MARK AS ACCUMULATION.
NOTHING TO WORRY ABOUT THIS IS SOMETHING THAT I HAVE SEEN MANY...
FIRST ENTRY 1050/b]
SECOND ENTRY 880
DEVIATION OF ABOUT 16%
NO SL IN HISTORICAL ALL TIME LOW
NEO IS A COIN THAT CAN COME DOWN ILL LOAD MORE. MORE? AND ILL LOAD MORE!
EXPECT ANOTHER PUSH DOWN (RULE OF ACCUMULATION)
RULE OF COST AVERAGE
IF YOUR FIRST ENTRY IS 1
YOUR SECOND ENTRY IS 2
THIRD ENTRY 3
SO YOUR EXIT PRICE FOR ALL YOU SHAKY HANDS IS LOWER TO YOUR INITIAL...
I still believe this is an accumulation but might take 1 year more so I updated my previous idea, I believe we are going for a spring based on wyckoff accumulation. Altcoins on USD pair should see lower lows as well:
BINANCE:NEOBTCAlt coins are running and NEOBTC is due for a great run, brought to you by the Macro to Micro Trading Strategy.
The chart indicates that the most over-expanded period on the daily timeframe is the 55-period price mass. This is a mean reversion approach that combines analysis of price action and most importantly, price mass, thereby offering a high...
Based on technical analysis, NEO currently stuck in support area and accumulated. Possibility to fly was high. Its combined too with RSI that in bottom area.
Divergence also an indicator of the bounce area.
1st target area : 0.004673
Let see together
. NEO/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 45.
. While the RSI downtrend is not broken, bearish wave in price would continue.
. The price downtrend in the daily chart is broken, so the probability of the resumption of...