stefcom

NEOBTC short-term opportunity

Short
BITTREX:NEOBTC   Neo / Bitcoin
A classic divergence setup on the hourly chart of NEOBTC: price was making higher highs, while an oscillator ( commodity channel index , CCI ) was making lower highs. A clear sign of a trend reversal.
RSI was making higher highs, so that's not supporting the divergence idea, but it is increasingly overbought and this is of course an additional sign for a reversal.
The current daily pivot point is yet untouched, so I think this is a perfect profit target for going short on NEOBTC .
Trade closed: target reached: Profit target was reached as predicted. Direct hit :-)

Pro Divergence - get it here: https://bit.ly/prodivergence
Lifetime Access All Areas - https://bit.ly/lifetime-allarea
GET THE CCIDivergence STUDY FOR FREE: http://bit.ly/CCIDivFree
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.