Neo / BitcoinUpdated Trying to chart the NEO pump
Pretty tricky to make a chart for such a pump, but lets give it a try:
Based on Fibonacci, target for leg 3 would be the blue box where we are right now. If (a big IF) we retrace from here, it could go back to (4) for a next leg up.
All indicators show overbought and retrace possible (indicators are not leading for me, just a tool).
Don't get caught in the hype! Trade what you see, not what you think. Use proper risk management with these kind of pumps.....
If you like my ideas, give a like and check my others ;-)
Happy trading!
Based on Fibonacci, target for leg 3 would be the blue box where we are right now. If (a big IF) we retrace from here, it could go back to (4) for a next leg up.
All indicators show overbought and retrace possible (indicators are not leading for me, just a tool).
Don't get caught in the hype! Trade what you see, not what you think. Use proper risk management with these kind of pumps.....
If you like my ideas, give a like and check my others ;-)
Happy trading!
Note
quick update: it extended a bit further...exactly on the next fib level.I'm detetcting a trend reversal pattern right now. Lets see
Note
The pump was too strong :-)NEO went parabolic....Lets wait till it gets a bit more settled amd see if I can detect a pattern.
Note
New try ;-)NEO broke out of the channel, retested that trendline and looks to me as it goes testing again. Currently I'm detecting a bullish pattern, depending on the strength we can see a further retrace to the blue box or a bounce from the trendline.
Watch priceaction near trendline, a strong bullish candle is a buy signal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.