Neousd
NEOUSDT (NEO) - UPTREND CONTINUATION ANALYSIS 🔎
- NEOUSDT brokeout above the descending trendline resistance (1).
- Price hit a swing high and retraced for a retest (1) of the descending trendline resistance (1).
- Price the bounced off the retest (1), breaking out above the descending trendline resistance (2), hitting a new swing high.
- Price is currently retracing for a retest (2) of the descending trendline resistance (2), key fibonacci retracement levels and ascending trendline support.
- The current retracement is resisted by the descending trendline resistance (3).
- We see another bounce off the retest (2).
BUY ENTRY ⬆️
- Aggressive (risky) : Key fibonacci retracement levels.
- Conservative : breakout above the descending trendline resistance (3).
TARGETS 🎯
- Swing high (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.
NEO technical vs sentimentalin NEOUSDT sentimental analysis has strong bearish signals, but technical analysis is not really on the same side. trading in neo is a bit risky, but remember that:
1- when stop loss-hunt doesn't work, price tends to increase even sharper.
2- semi-good news for NEO 3. is on go till March (not that powerful)
3- weekly time-frame is really positive
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NEO breaking out of the MatrixNEO looks to be breaking out in an Elliott 3rd wave. After multiple breaks of long term resistance, this could be the time that it finally doesn't look back. And with wave 3 usually being the most powerful, there's a strong case this will hold this time. Lots of room to grow with resistance at 40 and 90.
NEO DAILY TIME FRAMEIn major time frames we saw how the price is starting to form an uptrend.
In this chart we see how the price has broken an accumulation area and is forming a continuation pattern, the price breaks the resistance with fractality and returns to the now support. If the price leaves us with a decisive candle in this area, we can go long to look for a long run up to $40.
✳️NEO/USDT Analysis (21/1) #NEO $NEOIf NEO loses $23-24 zone, it will have a strong correction, but there are many very reliable support levels to help NEO rise to $34 zone in February.
The most important support zone is 17-18$ zone, if NEO loses this zone, it will fall into downtrend and fall sharply to $11 or worse $9. However, if NEO falls to $9 then we should buy a lot of NEO as that will be the bottom of NEO in 2021.
📈BUY
-Buy: 20-21$. SL if B
-Buy: 17-18$. SL if B
-Buy: 10.5-11$. SL if B
-Buy: 8.5-9$. SL if B
📉SELL
-Sell: 33-34$. SL if A
-Sell: 23-24$ if B. SL if A
-Sell: 20-21$ if B. SL if A
-Sell: 17-18$ if B. SL if A
♻️BACK-UP
-Buy: 23-24$ if A. SL if B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
NEOBTC an expected breakout of cloudBig bullish Shark:
Previously we have seen that the NEO coin formed a big bullish Shark and produced more than 300% rally.
SMAs on the weekly chart.
Now on long-term weekly chart, the priceline of NEO coin with US Dollar pair has crossed up the all simple moving averages with the time period of 25, 50, 100 and, 200.
Up-channel:
On the weekly chart, with US Dollar pair the NEO coin is also moving in an up channel.
New Up-channel:
While moving in an up-channel on weekly chart, the priceline has also started more bullish up-channel within the previous channel.
Ichimoku cloud turned weak:
On the weekly chart, In the Bitcoin market the NEO coin is moving under the Ichimoku bearish cloud for a long time period. Now the bearish cloud has changed from strong to weak and it is possible that the price action of NEO will breakout this Ichimoku cloud resistance soon and start a powerful bull run.
Conclusion:
Even though the NEO coin is much bullish in the US dollar market. But after breaking out the Ichimoku cloud resistance it can turn very strong bullish in the Bitcoin market as well.
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