AlphaTradeZone

neo possible double bottom

Long
BITFINEX:NEOUSD   NEO / U.S. Dollar
bounced off support 2 times, now with btc recovering we may see 2 targets hit
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Comments

Technically we are on an emerging 4H Channel Down that is seeking a test of the 13.55 support. This is the level to watch (rejection or break out). Given the overall bearish trend on 1W it is safer to short within this channel to 8.78:

+1 Reply
AlphaTradeZone InvestingScope
@InvestingScope, we hit targets
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InvestingScope AlphaTradeZone
@AlphaTradeZone, Well done. Technically that was probably a 0.5 Fibonacci retracement. It will most likely resume the downtrend.
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nice playout so far
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