CrackingCryptocurrency
Long

NEO/USD: Multiple Levels of Analysis

BITFINEX:NEOUSD   NEO / U.S. Dollar
NEO/USD was requested by my good friend GBU Professor Wally. I apologize I was not quick enough to respond to his Super Chat on Friday afternoon.

I quite like NEO in this area. On the Weekly Timeframe , we are consolidating following a downtrend and now a long period of sideways and volatile ranging. I identify the current formation as a Rectangle Bottom, which I have a high hit rate with in my discretionary trading. Once our weekly resistance level is broken (weekly close above) it will also flip the weekly SuperTrend bullish . I have marked out our measured weekly profit targets.

On the Daily, we are receiving a potential PTP Daily Swing Long Signal. The actual signal would have been generated on yesterday's candle, however we were above the Qualifying Line generated by our Donchian Base Line. Now we have a potential RBB buy in opportunity and price is within our Buy Zone. Good R/R on this setup.

On the hourly, we can see a potential market bottom being signaled. ICYS Bot has generated a buy signal in addition to Vix Fix signaling a high volume potential bottom.

Trade safely and position size wisely, 2% risk is recommended.
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Good Jobs!
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Great
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