Hey guys,
Today we'll be looking at NEO on the 4hr chart. NEO has performed extremely well in the past few days.
But currently i feel we are hitting a crucial area with strong resistance approaching on the both the daily and 4hr which could indicate a slight correction or bull trap.
I am definitely more Bullish on NEO than bearish but believe we should all be aware of possible scenarios. The bearish divergence does have me a little worried.
Looking at the chart you can see my EW count, which is still currently valid. BTC is moving upward, but is also in the same area. A break above the 60 RSI on the daily would indicate a strong bullish reversal.
I tend to chart BTC and many Alts together. Especially USD paired alts as it gives me a better indication of what can happen. If BTC dumps, chances are the Alt will be effected as well.
Hope you guys enjoyed my TA, If so remember to hit the link button and give me a follow.
Cheers
Today we'll be looking at NEO on the 4hr chart. NEO has performed extremely well in the past few days.
But currently i feel we are hitting a crucial area with strong resistance approaching on the both the daily and 4hr which could indicate a slight correction or bull trap.
I am definitely more Bullish on NEO than bearish but believe we should all be aware of possible scenarios. The bearish divergence does have me a little worried.
Looking at the chart you can see my EW count, which is still currently valid. BTC is moving upward, but is also in the same area. A break above the 60 RSI on the daily would indicate a strong bullish reversal.
I tend to chart BTC and many Alts together. Especially USD paired alts as it gives me a better indication of what can happen. If BTC dumps, chances are the Alt will be effected as well.
Hope you guys enjoyed my TA, If so remember to hit the link button and give me a follow.
Cheers