Hello my friends! Looking at the chart you can see the NEO is forming a rising wedge which which is a bearish thing to see.
The falling wedge (In red) made it clear that a breakout was going to happen, just like this falling wedge (in black) is telling us that NEO could go lower.
If neo manages to break the black resistance line (of the rising wedge), Neo could rise up towards the blue line.
This rising wedge is just 5 days old but tells us that NEO is planning something soon.
Will It go up or does NEO follow the wedge and falls?
Time will tell,
Greetings, Krypton.
The falling wedge (In red) made it clear that a breakout was going to happen, just like this falling wedge (in black) is telling us that NEO could go lower.
If neo manages to break the black resistance line (of the rising wedge), Neo could rise up towards the blue line.
This rising wedge is just 5 days old but tells us that NEO is planning something soon.
Will It go up or does NEO follow the wedge and falls?
Time will tell,
Greetings, Krypton.
Comment:
maybe a cup and handle pattern can be created in this pattern. As you can see the cup has already been formed. But it is unusual for a handle to be created with such high volume. So the chance this pattern will be created is slim but still possible! You can also see my falling wedge played out the way I thought it would, but this big rise was quickly stopped by a bear trap!
Greetings, Krypton.