NEO is in a clear uptrend channel. However, we're nearing 2 logarithmc resistance levels (red). If NEO is able to break these resistance levels, the price is going to rise to 106 dollars.
It already crossed the blue resistance line, but had its first bullish movement already. We're looking for some more confirmation before we're going to buy in.
If you want to buy the breakout, watch these indicators:
4H 25EMA crossing 50EMA.
Crossing AND closing red Log resistance line.
(optional) Crossing upper trend resistance level (blue).
The question isn't if NEO is going to move to the .618 retracement level, the question is when. NEO is great technology, and I'm looking for a nice buy in price.
Buy in locations:
Lower trend line (probably never going to happen)
Pullback after price reaches .5 retracement
.382 Fib retracement, might happen after price touched .5 retracement.
Follow and like for updates on this idea for buy in locations. I'm looking for guaranteed profit, not for some impulsive buys to stimulate FOMO pumps.
It already crossed the blue resistance line, but had its first bullish movement already. We're looking for some more confirmation before we're going to buy in.
If you want to buy the breakout, watch these indicators:
4H 25EMA crossing 50EMA.
Crossing AND closing red Log resistance line.
(optional) Crossing upper trend resistance level (blue).
The question isn't if NEO is going to move to the .618 retracement level, the question is when. NEO is great technology, and I'm looking for a nice buy in price.
Buy in locations:
Lower trend line (probably never going to happen)
Pullback after price reaches .5 retracement
.382 Fib retracement, might happen after price touched .5 retracement.
Follow and like for updates on this idea for buy in locations. I'm looking for guaranteed profit, not for some impulsive buys to stimulate FOMO pumps.
Comment:
Just as expected, first the .5 retracement, then the .382 fib retracement. Keep a close look at 5 min chart, we should look to buy in.
Comment:
Watch the lower trend line! Great buy in location! BTC is dropping, so catch some crypto with a discount.
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