NEO Bullish Ascending Triangle, Getting Closer To Breakout!
Updated
NEO (NEOBTC) has a chart that is basically identical to Skycoin (SKYBTC), which we shared recently.
You can see Skycoin here:
For NEOBTC it can take longer though, as this one is yet to break above EMA50... Let's take a look at the signals:
Overall we have the same chart as SKYBTC but a bit weaker. We can expect NEOBTC to make a strong move within 2-3 weeks max.
Conditions for change: If NEOBTC closes below 0.00139, the triangle pattern is gone. If NEOBTC goes below 0.00127 our view changes from bullish to bearish and a new analysis is needed.
Anything above the 13-May low and we remain bullish long term.
This is not financial advice.
Thanks a lot for reading.
Namaste.
You can see Skycoin here:
For NEOBTC it can take longer though, as this one is yet to break above EMA50... Let's take a look at the signals:
- Trading above EMA10.
- Bullish breakout after retrace.
- Volume increasing in favor of the bulls.
- The MACD needs work but is trending up.
- The RSI is really strong.
Overall we have the same chart as SKYBTC but a bit weaker. We can expect NEOBTC to make a strong move within 2-3 weeks max.
Conditions for change: If NEOBTC closes below 0.00139, the triangle pattern is gone. If NEOBTC goes below 0.00127 our view changes from bullish to bearish and a new analysis is needed.
Anything above the 13-May low and we remain bullish long term.
This is not financial advice.
Thanks a lot for reading.
Namaste.
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Previous analysis: 
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Bitcoin is moving up... 
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