NEO NEOBTC - About to test its support. (100% Potential)
Updated
I have been looking at this coin for quite some time now. It is known to be the Ethereum of China and has been growing steadily for the past few weeks.
RSI = Looking at the RSI, one can see that the coin is close to being oversold. It has passed levels of previous retracements.
MACD = The MACD is showing how the retracement is slowely coming to an end, already turning upwards slightly.
Coppock = Coppock is an indicator that shows the average rate of change on multiple timeframes. It basically shows you whether bulls or bears are dominant. When the Coppock curve crosses the x-axis (0), bulls have the upperhand. Coppock curve is close to the x-axis but has not crossed it yet!
Trend = The logarithmic axis shows one a valid channel in which the price fluctuates. Price is about to the test its support line.
Elliott = Neo is ready for its fifth wave.
Since bitcoin is still bearish, I have decided to first wait and see if the support line can hold Neo's price. When it does and volume increases, the following instructions are to be followed.
Buy in range
- 0.010 -- 0.0114
First Target
- 0.014
Second Target
- 0.019
**Disclaimer
I am fairly new to all of this so please, if you do not agree, contact me.
RSI = Looking at the RSI, one can see that the coin is close to being oversold. It has passed levels of previous retracements.
MACD = The MACD is showing how the retracement is slowely coming to an end, already turning upwards slightly.
Coppock = Coppock is an indicator that shows the average rate of change on multiple timeframes. It basically shows you whether bulls or bears are dominant. When the Coppock curve crosses the x-axis (0), bulls have the upperhand. Coppock curve is close to the x-axis but has not crossed it yet!
Trend = The logarithmic axis shows one a valid channel in which the price fluctuates. Price is about to the test its support line.
Elliott = Neo is ready for its fifth wave.
Since bitcoin is still bearish, I have decided to first wait and see if the support line can hold Neo's price. When it does and volume increases, the following instructions are to be followed.
Buy in range
- 0.010 -- 0.0114
First Target
- 0.014
Second Target
- 0.019
**Disclaimer
I am fairly new to all of this so please, if you do not agree, contact me.
Trade active
Stop loss: 0.0104Note
Do not know what the effect of this is, but for anyone who's interested, the Weiss grades:EOS and ETH -> B
ADA, NEO and STEEM -> B-
BTC -> C+
Note
First target has been reached. MACD and Coppock are still looking bullish. RSI is overbought. Expect a boost from NEO Devcon tomorrow, after which prices consolidate.First Target
- 0.014 [Reached 29-01-18]
Second Target
- 0.019
Trade closed manually
I am taking profits here. Support level is broken. Neo still has much more potential, but with btc bleeding out, I will close this trade and revisit it in the future.
Disclaimer
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