NEO Is Setup To Move Strong If It Can Stay Above This... 1000%+
NEO (NEOBTC) started to grow in late October 2019 after hitting a low in September. It managed to gain strong momentum and break above all major resistance levels in the form of EMAs, peaking just shy of hitting EMA300 (gray line).
After a strong bullish move, a retrace follows... and for NEOBTC prices remained really strong and quickly moved back above EMA200 (brown).
Now that prices are above EMA200, NEOBTC can easily make a strong jump.
The fact that the price hit just below 0.5 Fib. retracement rather than 0.786, is another bullish signal to keep in mind. With that side, prices can still move lower and a drop below EMA100 (purple line - 0.001199) would invalidate most the bullishness coming from this chart short-term, but we still lookup.
This is a good setup, NEO is looking for the long-run.
Here is the weekly chart:
Thanks a lot for reading.
Namaste.
After a strong bullish move, a retrace follows... and for NEOBTC prices remained really strong and quickly moved back above EMA200 (brown).
Now that prices are above EMA200, NEOBTC can easily make a strong jump.
The fact that the price hit just below 0.5 Fib. retracement rather than 0.786, is another bullish signal to keep in mind. With that side, prices can still move lower and a drop below EMA100 (purple line - 0.001199) would invalidate most the bullishness coming from this chart short-term, but we still lookup.
This is a good setup, NEO is looking for the long-run.
Here is the weekly chart:
Thanks a lot for reading.
Namaste.
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