-NEO broke the rising channel to the downside -Which by Technical, it is a Bearish pattern most of the time -We can see an engulfing red candle followed with a big spike in sell volume -This is a strong indication of the massive amount of NEO sold at the market price -Well, we know BTC is also breaking to the downside causing Alts to follow down -But NEO is highly affected or the most weakness against the USDT pair -If you have a position since the rally from 16 dollars to 25 dollars -Be sure to take profit and move stop loss at key levels -If you are looking enter a Buy order, wait for the price to test the major support at the $15 range
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To take a position in NEO, do you think it will test the major support at the $15 range in the near future or are those days long gone and you would suggest another entry position ?
Thanks for the chart.
Ward