NEO Bullish Ascending Triangle, Getting Closer To Breakout!NEO (NEOBTC) has a chart that is basically identical to Skycoin (SKYBTC), which we shared recently.
You can see Skycoin here:
For NEOBTC it can take longer though, as this one is yet to break above EMA50... Let's take a look at the signals:
Trading above EMA10.
Bullish breakout after retrace.
Volume increasing in favor of the bulls.
The MACD needs work but is trending up.
The RSI is really strong.
Overall we have the same chart as SKYBTC but a bit weaker. We can expect NEOBTC to make a strong move within 2-3 weeks max.
Conditions for change: If NEOBTC closes below 0.00139, the triangle pattern is gone. If NEOBTC goes below 0.00127 our view changes from bullish to bearish and a new analysis is needed.
Anything above the 13-May low and we remain bullish long term.
This is not financial advice.
Thanks a lot for reading.
Namaste.
