Hi dear friends, hope you are well and welcome to the new update on NEO coin.
Daily wedge and triangle:
On a daily time frame, Neo coin has formed a falling wedge pattern, now the movement is squeezed because at the end of the wedge a descending triangle is formed and the support of this triangle is not letting the priceline to moved down to test the support of wedge again. There is also 200 SMA resistance above the resistance of the wedge. After breaking out the resistance of wedge and 200 SMA resistance we can expect a big move.
200 SMA support:
On a weekly time frame, the priceline of NEO coin is getting bounced by 200 simple moving average support.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Daily wedge and triangle:
On a daily time frame, Neo coin has formed a falling wedge pattern, now the movement is squeezed because at the end of the wedge a descending triangle is formed and the support of this triangle is not letting the priceline to moved down to test the support of wedge again. There is also 200 SMA resistance above the resistance of the wedge. After breaking out the resistance of wedge and 200 SMA resistance we can expect a big move.
200 SMA support:
On a weekly time frame, the priceline of NEO coin is getting bounced by 200 simple moving average support.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade