NEO at key $40 resistance -after huge bull runHey guys, first of all to my American friends: Happy 4th of July! Freedom & Independence are very important. It was freedom from the government that has started the Bitcoin project. And many other peoples of the world still wish they had the independence that the Americans are celebrating today.
Similar to grandpa Bitcoin, NEO is at the key $40 previous support, now resistance area. We're clearly above 4H EMAs 12 & 26, which gives room for consolidation. The good news is: exactly like grandpa we're right now upholding both EMAs also in the daily: should it stay this way in the coming days & weeks this could lead to a similar bull run like at the April lows, when we turned both EMAs into support. => I will be talking about this in today's episode of the 'Crypto Chart Analysis', make sure to watch it! ;)
But beware: Bitcoin has run without a Daily Higher Low so far from the bottom -this will be coming for sure, and a pullback at a clear resistance is not a shocker. All in all, NEO more than doubled in the last bull run, so: keep an eye on that! In the direct correlation NEO/BTC, we can see basically the same scenario, turning EMA's into support after long rejections - which shows clear relative strength against Bitcoin.
If you had some value from my analysis, please like & subscribe, I will be doing those daily from now on! ;) I wish you a good holiday & trading.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
