NEO/BTC, Long+Short, Bearish butterfly on daily TF
We have a bearish butterfly on the daily TF for the pair NEO/BTC. At the same time we have an ascending triangle which breakout could reach D to go down to pursue the downtrend initiated at the begin of April.
The RSI was also very bearish, it crossed the 50 line now but could dive again if the pattern is confirmed.
For the long part: from the breakout until we reach D.
For the short part:
Buy-in: 1999 in the PRZ of the pattern and also resistance
TP1: 1701 which is the last major support
Other TPs on the small supports initiated by the triangle and the fibonacci supports. If the ATL breaks, the TPs are located on the extended fibonacci ratios and pivot points but don't be too greddy as usual.
SL: 2110 just above the 2.414 fibo line which also corresponds to a resistance
The RSI was also very bearish, it crossed the 50 line now but could dive again if the pattern is confirmed.
For the long part: from the breakout until we reach D.
For the short part:
Buy-in: 1999 in the PRZ of the pattern and also resistance
TP1: 1701 which is the last major support
Other TPs on the small supports initiated by the triangle and the fibonacci supports. If the ATL breaks, the TPs are located on the extended fibonacci ratios and pivot points but don't be too greddy as usual.
SL: 2110 just above the 2.414 fibo line which also corresponds to a resistance
Order cancelled:
Pattern not confirmed.