Neo Rebound
Updated
Neo has been consolidating for the past few days after its meteoric spike to 60k.
It has formed a bullish harami reversal pattern around 46k level.
In order to stay BULLISH - NEO needs to hold key support of 45k.
Now would be a decent time to buy or at the break of the next resistance level around 49k.
After breaking 49k, it should test 54k, then 60k.
Watch the volume closely at these levels to see if there's large support behind the moves upward. If it's breaking these resistance levels with very low volume and weak forming candles - be wary.
Good luck out there and happy trading everyone!
DISCLAIMER:
Take this advice at your own risk!
It has formed a bullish harami reversal pattern around 46k level.
In order to stay BULLISH - NEO needs to hold key support of 45k.
Now would be a decent time to buy or at the break of the next resistance level around 49k.
After breaking 49k, it should test 54k, then 60k.
Watch the volume closely at these levels to see if there's large support behind the moves upward. If it's breaking these resistance levels with very low volume and weak forming candles - be wary.
Good luck out there and happy trading everyone!
DISCLAIMER:
Take this advice at your own risk!
Note
Hold up, somebody just informed me that the eliot wave of 4 cannot be lower than 2. I have changed my position to bearish + the support broke.
Disclaimer
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