We see a nice break out of the descending triangle, which is a bullish sign for NEO/USD.
Now it really just depends on what happens with the BTC/USD pair, which is also testing some major resistance right now near the 3800 level - If BTC fails and moves lower... it is likely that this NEO breakout will also get shut down, but right now it has the momentum and we have entered into a long position with about 1/4 normal risk.
I will keep you posted, as this trade develops.
Have a great trading day everyone
Now it really just depends on what happens with the BTC/USD pair, which is also testing some major resistance right now near the 3800 level - If BTC fails and moves lower... it is likely that this NEO breakout will also get shut down, but right now it has the momentum and we have entered into a long position with about 1/4 normal risk.
I will keep you posted, as this trade develops.
Have a great trading day everyone
