This TA follows that I released past 26th of March (and all its updates, check on my profile).
NEO is proceding smoothly its breakout, despite the target isn't reached yet the momentum is there, however I expect a retracement between 4 and 8% according to trendilines. Ichimoku cloud instead says it can be more, so let's round up to be safe, let's say no more than 10%.
As you can see there's a bearish DIV at 4h so it's significant. I know, recently a LOT of coins pumped against bearish DIVs but unless in the next 30 min the 4h candle will change COMPLETELY, it'll close like a spinning top which means next one will go down.
Overall I remain bullish on NEO, when the retracement will be over be sure price will hit target so, if like me you're in for the long term enjoy the ride. If instead you wanna jump in don't do it now, wait the end of the retracement.
NEO is proceding smoothly its breakout, despite the target isn't reached yet the momentum is there, however I expect a retracement between 4 and 8% according to trendilines. Ichimoku cloud instead says it can be more, so let's round up to be safe, let's say no more than 10%.
As you can see there's a bearish DIV at 4h so it's significant. I know, recently a LOT of coins pumped against bearish DIVs but unless in the next 30 min the 4h candle will change COMPLETELY, it'll close like a spinning top which means next one will go down.
Overall I remain bullish on NEO, when the retracement will be over be sure price will hit target so, if like me you're in for the long term enjoy the ride. If instead you wanna jump in don't do it now, wait the end of the retracement.
Comment:
The 4h candle did change and closed as hanging man, still doesn't look very good to be honest
Trade closed: target reached:
ok despite closing the 18:00 4h candle as an hanging man NEO kept pumping and hit my target (64$). My TA was very precise. If you were in for the short term you've sold already, if you're in for the long term keep holding