Cup and handle is forming on the 1HR for NEO. I took profits from my previous long at .0077 sats last night.
If NEO retests the first green box around .0079 it will do so with a bearish divergence on the RSI as price would be equal or making a higher high and the RSI will be making a lower high and it would be at a resistance level so a fall should be anticipated. Price should fall to around the .0382 fib level (blue box) which will form the handle of the cup and handle pattern. From there if price breaks through the cup neckline with significant local volume then we should see a target price of around .0084 sats (second green box).
This formation is still far out and is speculative but if price form a handle and then breaks previous resistance with volume I would expect it to reach the cup and handle target zone.
Not financial advice. DYOR.
If NEO retests the first green box around .0079 it will do so with a bearish divergence on the RSI as price would be equal or making a higher high and the RSI will be making a lower high and it would be at a resistance level so a fall should be anticipated. Price should fall to around the .0382 fib level (blue box) which will form the handle of the cup and handle pattern. From there if price breaks through the cup neckline with significant local volume then we should see a target price of around .0084 sats (second green box).
This formation is still far out and is speculative but if price form a handle and then breaks previous resistance with volume I would expect it to reach the cup and handle target zone.
Not financial advice. DYOR.