Hey guys, NEO has right now completed the Head & Shoulders reversal on the Hourly & 4H, very similar to the one we had a few days back. Of course, it has to follow through for confirmation, but just like with ETH, we see the clear dominance of grandpa Bitcoin right now, who is holding up much stronger, in an equilibrium on the top of the spike 2 days ago. We've broken both 4H EMAs 12 & 26 to the downside, while BTC hasn't touched 12 EMA yet.
NEO nevertheless has build 2 beautiful rounded bottoms, with the neckline at 40-45$: The break of this will be definitive. On the downside, the 4H/Daily Higher Lows are at $30, we should uphold this to stay in the equilibrium.
In the direct correlation of NEO/BTC we're approaching critical support at .48.
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About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
NEO nevertheless has build 2 beautiful rounded bottoms, with the neckline at 40-45$: The break of this will be definitive. On the downside, the 4H/Daily Higher Lows are at $30, we should uphold this to stay in the equilibrium.
In the direct correlation of NEO/BTC we're approaching critical support at .48.
If you had some value from my analysis, please like & subscribe so you don't miss it next time, I'm doing it daily! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.