Bonjour everyone!
A quick analysis on NEO which made a really nice 100% rally in the last two weeks. I believe this rally was carried with the excellent news NEO had in April, coupled with the insane Bitcoin rally.
As you can see on the chart, it's coming close to the long term log downtrend line.
This is in my opinion the worst spot to enter a position until there is a clear breakout with volume.
I would add more to my bag if it breaks up, and get ready for a pullback if buyers start to loose faith in the rally.
Trade safely!
NB: pardon my poorly drawn rocket launch
A quick analysis on NEO which made a really nice 100% rally in the last two weeks. I believe this rally was carried with the excellent news NEO had in April, coupled with the insane Bitcoin rally.
As you can see on the chart, it's coming close to the long term log downtrend line.
This is in my opinion the worst spot to enter a position until there is a clear breakout with volume.
I would add more to my bag if it breaks up, and get ready for a pullback if buyers start to loose faith in the rally.
Trade safely!
NB: pardon my poorly drawn rocket launch