NEO BUY BREAKOUT TO HAPPEN SOON
Since the recent news of China banning
ICOs and also traders sentiment,
NEO/BTC has been falling and now trading within
a rectangular range of 0.006 sats to 0.0038 sats.
Within the rectangle also, it has found support
at 0.0044 sats since on the 15th of this month.
This is represented by the lower trend line with
the blue star.
NEO has also found a resistance at 0.0059sats within the rectangle
which is represented by the upper
trend line with the blue star
If NEO continues to fall,
and breaks the lower trend line(0.0044sats)
within the rectangle, it will find support(0.0038 sats)
at the base length of the rectangle.
If the base length support of the rectangle holds,
NEO will experience a price reversal to the upper length of
the rectangle(0.0059sats).
Likewise,if the upper length resistance of
the rectangle holds, price
will return to the base length of the rectangle.
Failure of the base length support of the rectangle to
hold will push the price of NEO lower to the last
trend line(0.0025 sats)represented with blue colour.
A buy breakout is expected if price breaks above
the upper length(0.006sats) of the rectangle.
So buy NEO at 0.0038 sats if base length support holds
Also buy NEO at 0.0025sats at the blue trendline line
Set your take profit at the upper length of the rectangle first.
The point(0.0044 sats) where you have the red lower trend line within
the rectangle that is marked with the blue star, is also
a good entry point for a buy. Trade at your risk.
ICOs and also traders sentiment,
NEO/BTC has been falling and now trading within
a rectangular range of 0.006 sats to 0.0038 sats.
Within the rectangle also, it has found support
at 0.0044 sats since on the 15th of this month.
This is represented by the lower trend line with
the blue star.
NEO has also found a resistance at 0.0059sats within the rectangle
which is represented by the upper
trend line with the blue star
If NEO continues to fall,
and breaks the lower trend line(0.0044sats)
within the rectangle, it will find support(0.0038 sats)
at the base length of the rectangle.
If the base length support of the rectangle holds,
NEO will experience a price reversal to the upper length of
the rectangle(0.0059sats).
Likewise,if the upper length resistance of
the rectangle holds, price
will return to the base length of the rectangle.
Failure of the base length support of the rectangle to
hold will push the price of NEO lower to the last
trend line(0.0025 sats)represented with blue colour.
A buy breakout is expected if price breaks above
the upper length(0.006sats) of the rectangle.
So buy NEO at 0.0038 sats if base length support holds
Also buy NEO at 0.0025sats at the blue trendline line
Set your take profit at the upper length of the rectangle first.
The point(0.0044 sats) where you have the red lower trend line within
the rectangle that is marked with the blue star, is also
a good entry point for a buy. Trade at your risk.
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