NEO The Chosen One 10:1 Reward/Risk ratio- NEO/BTC

BITTREX:NEOBTC   Neo / Bitcoin
This is a very interesting trade and a potential bottom that can be spotted on NEO.

NEO had a steady downtrend that has been happening since December and this is the first time the downtrend on Daily chart has been broken.

We are currently in a channel that is determening if the price will go up or down. That is why I'm placing my stop loss right below the channel and hoping we break the channel in upwards direction.

Breaking the downtrend signals to me that bears are starting to get weaker and weaker. Weekly RSI is extremely oversold, MACD had a bullish crossover recently on the Daily and on the 4hr Candles, Ichimoku cloud is showing very good support.

This is why I think NEO is a good coin to buy right now. Be patient guys, the bull season will come soon.
Comment: We almost hit our stop.

Market is in red today and is looking very oversold. Wouldn't be surprised at all if this is the last dump before the next strong uptrend continues. I'm considering moving the stop as this is looking like a big manipulation.
Comment: Out of the red and in the green finally.

NEO has found its bottom.

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