NEO the SLEEPING GIANT! Cup&Handle that can start a new uptrend!BINANCE:NEOBTC
BITTREX:NEOBTC
BITFINEX:NEOBTC
NEO is a currency that has a very strong and mature project, has been in the top5 on its ATH and is currently "asleep".
We can see many important signals that leave us a good expectation of a upward move in the short-term.
RSI and MACD have a very strong uptrend and both holding on the positive side, demonstrating the predominant buying power.
In candles, we can observe the formation of a Cup & Handle that is very close to testing the neckline. The volume is increasing very consistently since the beginning of February and points to a breakup attempt in the coming days.
Ichimoku is totally bullish, the price has already crossed the green cloud. Lines not shown in the chart: Chikou is above the price indicating the upward trend, Tenkan crossed over from Kijun.
20MA pointed up and soon there should be the touch with the 200MA, we know that the 200MA tends to be a very important dynamic resistance but I really believe that the price will cross it without difficulty (Already happened in the 4H chart).
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NEOBTC trade ideas
NEOBTC falling towards buying zoneThe price action is likely to have drop towards 0.618 to 0.786 fibonacci retracement for harmonic formation.
The 100MA is already in buying zone which can play the role of strong support to bouce back the price line insha Allah.
The targets are defined accordingly plz find on chart.
Regards,
Atif Akbar (moon333)
Is NEO in a C wave retracement?Once NEO finishes its "C" wave retracement, it should fall to test support, and so long as it is successful NEO should begin an impulsive wave upwards.
Be very weary of Bitcoin movements, because if Bitcoin breaks this bullish run with conviction, NEO will probably suffer.
April/May will be a very defining time in this market, so I believe we should be bullish until around then at least.
Simply, light analysis. Gonna try that for a change. Good luck!
NEO Looking Good in the Short-Term
Flat-top formation on $NEO on the daily resolution. That’s almost always bullish as bullish gets. This is formally known as an ‘ascending triangle’.
Super long-term downtrend resistance spanning back to April 28th, 2018 got broken:
Relative Strength Index
RSI(7) can definitely grow from where we are currently. Looking bullish.
Exponential Moving Averages
Price > EMA-12, EMA-26, EMA-50, EMA-100, but not EMA-200 (overhead as resistance).
EMA-50 = .2134 ; That’s a support point.
EMA-12 > EMA-26 > EMA-50 = Bullish ; positive. EMA-100
Let’s zoom in to the H12 resolution:
The Zerononcense Reversion Ribbon V2 is showing some serious convergence on the H12 resolution.
The crossover to indicating positive price action appears imminent.
Other Momentum Indicators (H8 Resolution)
Momentum indicators on the H8 resolution look positive for $NEO.
Conclusion
'$NEO (in the short-term) is looking very positive. Let’s see where it goes from here.
Important thing to note here is that the ascending triangle (flat-top formation) is strong for $NEO. It spans back several weeks (going back to 2018) on the daily resolution. Usually patterns like this can result in explosive growth.
NEO - Not ready to Die...I posted a week or so ago about NEO. Time to revisit
12Hr We broke up above the cloud on the 12th of Feb, and have not closed within the cloud since: Bullish
- We still have green skies ahead: Bullish
- Chikou Span is above Price still: Bullish
- Looking to close above Tenkan and Kijun: Bullish
MoMo (Bottom Oscillator) The slow line is above, and failed to drop below the 10 line - While the Histogram (faster moving) went down, and is turning up again, this is a sign of a Bear Trap.
3Hr We punched through the cloud and retested it and bounced: Bullish
- The Cloud is Bearish but we have a Kumo Twist inbound: Turning Bullish
- Chikou Span is above price now: Bullish
- Kijun and Tenkan have squeezed, it will be a couple more candles before we see a TK Cross: Turning Bullish
MoMo Both the slow and the Histogram have turned up, this is a strong buy.
We have a bunch of resistance above, So I feel we have some more sideways movement before we break up. NEO needs to wear out the sellers, but there seems to be a lot of pressure building up here which would lead to a strong break.
NEOBTC Going To The MooonYou can see the Chart of NEOBTC on 1 Day Timeframe .
I have Mention Support and resistance levels on Chart
Note: This is only for Educational Purpose this is not an Investment advice.
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Adil Khan
NEO Pre-PumpCheck November 2018 period. Deep into bear market, no volume, crypto is dead. Followed by big selling volume and consequent price drop just as it was bleeding. That seems like the final flush, immediately followed by buying volume as price holds. Just looks like the classic "dumb money" selling into "smart money"
NEO has some proper whales given it made a massive pump. Used to have plenty of liquidity.
Volume keeps coming in, liking the structure. It may take a while but this one is definitely something I'll be keeping my eyes on.