NEOLong
NEOUSD $46? Elliot Wave Analysis
Updated
Consolidation with a very strong volume upon breakout. Strong RSI from high to high and bullish MACD divergence on 4h and other candle lengths helping to form the thesis to buy this coin.
PLEASE note: Wave 4-5 targets are based on if wave 3 peaks at a 1:1 extension of wave 1-2 which I marked. If it goes to 1.618 of wave 1-2, the targets are completely void.
Read chart for reasonings/explanations behind prices on waves
Post any questions/feedbacks in comments, thanks
PLEASE note: Wave 4-5 targets are based on if wave 3 peaks at a 1:1 extension of wave 1-2 which I marked. If it goes to 1.618 of wave 1-2, the targets are completely void.
Read chart for reasonings/explanations behind prices on waves
Post any questions/feedbacks in comments, thanks
Note
A quick note on the graph - forgot to delete the 62.8% retracement on wave 3 since it goes below wave 1 peak. Oops
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