Targets for NEO NEO is still bullish and low compared to ATH.
See shortterms target. Each target will first be resistance, and possible support after breaking. First resistance is around 1360 as we speak :)
NEOBTC trade ideas
Generational Bottom?NEO/BTC has not only broken above the 2 year downtrend line, but looks to have reclaimed / be in the process of reclaiming the previous range. Zooming we can see a very clear bullflag. All that remains now to wait for completion and a daily close or two to make sure we get an S/R flip.
NEOBTC Trend Change| Pennant Formation| New Higher Low!Hello Traders!
Today’s chart update will be on NEOBTC after having a massive bull break from local lows, NEO is currently are trading in an equilibrium coming into its apex of this pennant. Will NEO put in a new higher low before continuing this new trend?
Points to consider,
- Trend broke lower low structure
- Local support in confluence with .618 Fibonacci
- Local resistance is where price topped out
- RSI trading in overbought territory
- Stochastics currently flat
- EMA’s turned bullish from initial break
- Volume declining
The structure of NEO has completely changed with this recent pump, negating the bearish trend of lower lows. Multiple resistance levels have been broken leaving the price consolidating looking to correct, which will be healthy for the price as this will put in a local higher low.
Local support is in confluence with the .618 Fibonacci level, price is highly probable to retrace to this level if a bear break comes to fruition from the pennant. Local resistance however is where price topped out from the initial bull break. This is an important area for the bulls to break in the next impulse move up to confirm the bull trend.
The RSI is currently overbought, a correction in the price back to the .618 Fibonacci level will cool this indicator off, back to neutral territory. The stochastics however is quite flat, no clear direction until we have a decisive break from the pennant.
EMA’s are currently bullish but is yet to meet price, it must hold price as support to confirm a bull break from this pennant. Volume is key to watch as it is rapidly declining, this signals that a break is imminent in either direction, which will be confirmed with an influx of bull and or bearish volume.
Overall, In My Opinion, we have a clear equilibrium forming, trading close to its apex. A break is imminent which has to be back with strong volume as it is visibly declining. A retracement back to the .618 Fibonacci is probable and will be very healthy for the trend; this will allow NEO to put in a new higher low as well as cool of indicators such as the RSI.
What are your thoughts on NEO?
Please Leave a like and comment,
And remember,
“You can lose your opinion of you can lose your money.” – Adam Grimes
NEO WILL BECOME THE BEST BLOCKCHAIN THIS 2020 -2020 is a Chinese Year! Singapore and China will adopt blockchain.
NEOBTC Descending Triangle is formingA descending triangle is forming, I'm just waiting for that volume to pop up
NEOBTC Bull Flag, Ready to start the next Run!Hello guys.
We had a bull run last week for Neo. As you can see, the price has been corrected very nice.
The next bull wave maybe come soon.
Follow the trade instruction, Remember the Fibo levels as targets.
Good Luck
#NEO UPDATE The coin has broken through the descending resistance, at the moment the price is located between two strong levels. If we see the price approaching 0.001075 level, we can start buying. If we see the price breaking the level 0.001230 - we can buy this breakout. Target is 0.0017.
NEO: Chart Seems PositiveBefore discussing NEO, let's start with a disclaimer. As we understand it, people don't think this is the most exceptional project - with or without the Chinese announcement about wanting to dominate blockchain.
With that out of the way, it looks like bulls may be in charge of the market. NEO right now is holding support from a bullish breaker. It is also not backing off from its highs. Also, the spike rally took out the "previous 4th." The previous 4th is the location where the last leg of the down move started. To be brief, NEO does have room to move if people who shorted the rally get stopped out.
Bottom Line : When a market makes a significant turn, sometimes the fundamentally worst instruments can trade the best. This was true at the 2009 bottom in risk assets as real estate ETF's traded very well on the turn higher. In the case of crypto, marginal altcoin projects may have another leg up or at least hold where they are.
NeoBtc trading opportunityGreat time for neo as the Chinese news is making the market rosy, price manage to breakout from the very long term falling wedge. At same time the downward wave seems also to be completed. I expect rapid move to follow with this.
Kindly follow the suggested accumulation zone on the chart and always remember to apply stop loss according to your risk mitigation.
Level to watch for are:
POSSIBLE ENTRY ZONE
Possible Support LEVEL
SELL TARGETS
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NEO/BTC (1D) Broke Through the Main Dynamic Line! Whats Next? We hit the main target and now the main dynamic resistance line became the main support dynamic line. Zones of interest and targets are on the chart. Good luck everyone!
NEO/BTC (1D): Actual Zones of Interest and TargetsThe coin has a downtrend. 1st strong support will be at the lower dynamic line. The best entry point will be there. RSI shows a double bullish divergence - that's a first sign that the trend will be switched soon at least for a while. Zones of interest and targets are on the chart. Good luck everyone!
NEO more than 50% profit in BTCHello, Traders!
Monfex is at your service and today we overview NEO/BTC, log scale .
NEO is in the falling bullish wedge and has MA100 near resistance line. It's with a bullish divergence by RSI.
Support, buy zone ~ 0,000850
Target zone ~ 0,001500
Stop lose - 0,000820
Almost 2X in this trade.
Breakout of the resistance line will be the best confirmation of this idea!
Share your thoughts, ideas about the market under the chart.
Watch for our Updates to be the first who gets well-timed signals !
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
