Distorta
Long

Neo may test bullish channel

BITFINEX:NEOUSD   NEO / U.S. Dollar
The moving average at 100 day close and 21 close are beginning to converge amidst resistance test. This local resistance is at $118 and will be approached in in the coming day. If volume picks up and Bollinger bands and Keltner channels stay tight with increased volume , a bull run is possible. If a bounce off the resistance happens and movement breaks the local support at $94 expect a bear run to the next support. Overall, optimistic that Neo will shine this spring and will be $250 by summer.
Comment: So far all predictions have been right. Resistance is now being challenged at $118. Fingers crossed for a breakthrough to $120
Comment: Breakthrough is confirmed. Next resistance target $130
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