mion21
Long

NEOUSD ascending triangle pattern

BITFINEX:NEOUSD   NEO / U.S. Dollar
273 0 2
Hi everyone. Here I would like to present you ascending triangle pattern of NEO. As you can see I have drown two triangles, one from lowest point and one from two most recent downs of NEO. The stoch RSI gives us the signal, that we will probably one more time retest the bottom of one or another triangle, this might give us idea which pattern is more reliable. I will be optimistic with this one and believe, that NEO will follow the trend of other coins and will go up after retest the support of triangles. If, however, the break of both triangles will occur to the downside, we can expect retest of the lowest point, maybe even little bit lower. So keep an eye on NEO, next break of the triangles will probably result in fast price movement(up or down).
Trade active: NEO has broken above the triangle and now found support on the top side of it. Unfortunately, we did no see any big movement after breakout. Maybe because there was a lot of going on with Bitcoin and Litecoin lately, NEO is simply waiting and moving to the side. Good indicator is that NEO has found the support. If, however, NEO will fall under 117 that would be negative signal for this trade. If you are in, keep an eye on it, or simply set sell order on 115.
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