quantguy

Neo Rejects Breakout

BITFINEX:NEOUSD   NEO / U.S. Dollar
Neo broke its losing streak with a brief rejection from the lower bound of the KRI             at $81, only to revert to this level once more. This has thwarted our hopes of a bull segment to the impulse phase of the Elliott Wave . Neo currently seems to be establishing the range between $81 and $92, the latter corresponding to a Fibonacci level. The bullish crab cypher pattern does not seem to have the momentum we'd expect from a breakout, which suggests that pattern has failed. We mentioned yesterday that we could retest $81 or $80, a psychological level and lower bound of recent support on day candles. This seems to be the case currently. Beyond that, we must turn to the $60's for support. From above, we have the upper bound at $92. Then we can expect resistance at $95 and $100, the latter being a major level, which will provide significant resistance, as will $102. After that, there is a vacuum zone to $110.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out