NEO has been in a healthy retrace after its recent bull run from an accumulation floor. The Blue support line in my chart is likely the lowest point it will hit before its next leg up. Place buy orders within the green ichi cloud. I was hoping NEO would make it all the way to the lower support, but unless some bad news comes out, or BTC has another large drop, touching the lower, long term support, seems unlikely. Still it's always good to place a few low buy orders, just in case!
The 4 hour green candle just bounced off of a ceiling that was already in my chart before it hit. You can see it hit the two resistance lines almost exactly where they cross. TA WORKS!
The 4 hour green candle just bounced off of a ceiling that was already in my chart before it hit. You can see it hit the two resistance lines almost exactly where they cross. TA WORKS!
Comment:
Neo pushed through the local resistance and is slowly climbing while bouncing off the previous support, now resistance. It should continue to move sideways, or follow the local resistance down to the bottom of the ichi cloud and the longer term support, but with the upcoming ICO's on the NEO Chain sentiment may stay bullish. Here is a possible scenario:
