NEO/BTC has started an uptrend at the beginning of the year. After this bullish push, it has entered a period of consolidation where it created a pennant. This pennant has been forming for around 3-4 weeks now, this means that the pennant may not be as accurate, although, will still be able to be considered a symmetrical triangle. Shown on the chart is the breakout of the flag rather than the triangle. Due to the chart being in the daily timeframe, I have set it up as a more long-term outlook. That means that even if the magnitude of the breakout isn't caused by the flag, the final target level for the price at this time frame is still around the price of 0.02221 indicated by the 161.8% fib level. The level that the breakout is expected to start is also using the Leading span A of the cloud as support along with the support level of 0.011607, formed during the forming of the triangle. The price reached under this level in the form of long lower wicks, but never closed under this level more than once. The levels that the price is expected to reverse from in the case of a bearish break, are the leading span B, 50% fib retracement and the 0.00875. This confluence leads me to believe that the price will struggle when trying to reach lower lows past these levels.
Important Resistance Levels: 0.01481, 0.01382 Important Support Levels: 0.01161, 0.00875
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