Descending Triangle , buy signal ?

NEO / BitcoinBinance

Description

⋅ Jun 9, 2018 6:23 PM

This AT is just for sharing my opinion and debate with yours . Its not what is going to happend . Do your own Ressearch !

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For me we are in a descending Triangle with strong support tested several times

Old resist in red , Tested support in green arrow

NEO is reaching strong support with decrease of volume in the end of triangle since 29/04

Actual candle at low Bollinger :

BB + Support = Could be a bounce

In D1, RSI is at 38 , its not so low so becarreful

About resistance first step will be to break the blue one at 0.007500 with enough power to reach 0.008 before attack nexts ones in red

0.008 is for me an important resistance because :
- psychological to start uptrend
- Pivot Point P
- Ichimoku thin and horizontal

NEO should attack this one but will depend of BTC

IS BTC going to repeat his fractal of 12/05 with a big green candle ?

NEO could follow

Objective will be same as the base of triangle

We could wait few days more to have an RSI oversold in H4, and D1

Please share your opinion

Comment

⋅ Jun 10, 2018 8:56 PM

Big red candle of BTC , NEO stay strong ! ( like many other Alts )

Comment

⋅ Jun 16, 2018 1:16 PM

Neo Seems to went back at his level before bull run of end 2017

RSI @ 25 !

Comments

ohmygaaad

⋅ Jun 10, 2018 8:56 PM

Big red candle of BTC , NEO stay strong ! ( like many other Alts )

ohmygaaad

⋅ Jun 9, 2018 6:56 PM

By " buy signal if break" please understand that the actual price is a very good entry point.

And the break of the line could be the start of uptrend not point where you should buy