This is for educational purposes only since shorting is not allowed on Binance or Bittrex at this time
However this could be used as a signal for exiting your current long position and then looking to re-enter at the price targets.
OK, so I know this signal may garner some criticism, especially since so many recent signals have conditional buys based on the Monthly Pivot Range high. This is a short signal, also with conditions similar to the many long signals of late, only the opposite direction. However, I have to call it the way it shows in the price and this one has a significant resistance barrier with the Pivot Stack. This resistance is formed by the Daily Pivot, Weekly Pivot, 3 Day and 6 Day Rolling Pivot Ranges, and to top it off you can see at the top of the Stack is the Monthly Pivot Range low.
This kind of resistance is too much to expect the price to rally through without substantial price movement over time and a shifting of these Pivots that will give way to a breakup of this resistance block. The Daily Pivot Moving Averages has a slight turn downward (14 day, 30 day: red, yellow) along with a steep decline of the 30 Day.
That said, if the Cryptobloque of coins decides the next big move is up, then NEO can surly move in correlated sympathy and break through this wall.
For now, you can look to short NEOBTC if it closes below the key support shown. Place the stop loss above the swing high and profit targets stated.
Once price reaches first profit target bring the stop loss to breakeven (entry price).
Short entry: 0.0066500
Stop loss: 0.0075400
Profit Target 1 and 2: 0.0061600 / 0.0048600
However this could be used as a signal for exiting your current long position and then looking to re-enter at the price targets.
OK, so I know this signal may garner some criticism, especially since so many recent signals have conditional buys based on the Monthly Pivot Range high. This is a short signal, also with conditions similar to the many long signals of late, only the opposite direction. However, I have to call it the way it shows in the price and this one has a significant resistance barrier with the Pivot Stack. This resistance is formed by the Daily Pivot, Weekly Pivot, 3 Day and 6 Day Rolling Pivot Ranges, and to top it off you can see at the top of the Stack is the Monthly Pivot Range low.
This kind of resistance is too much to expect the price to rally through without substantial price movement over time and a shifting of these Pivots that will give way to a breakup of this resistance block. The Daily Pivot Moving Averages has a slight turn downward (14 day, 30 day: red, yellow) along with a steep decline of the 30 Day.
That said, if the Cryptobloque of coins decides the next big move is up, then NEO can surly move in correlated sympathy and break through this wall.
For now, you can look to short NEOBTC if it closes below the key support shown. Place the stop loss above the swing high and profit targets stated.
Once price reaches first profit target bring the stop loss to breakeven (entry price).
Short entry: 0.0066500
Stop loss: 0.0075400
Profit Target 1 and 2: 0.0061600 / 0.0048600