". There is a possibility of temporary retracement to suggested support line (0.00173).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. NEOBTC is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts...
Hello Viewers .
As we have seen some tremendous Breakouts from many of the coins in this Bull Market Phase. Neo is ready to generate its new cycle pretty soon as the chart depicts that the Price action has been supported by the 20 EMA, 50&100 Ma, and now testing the 200 MA as dynamic resistance/support.
If we see S/R flip on the 200MA and therefore penetrating...
To me this chart is saying quite a few things.
When zooming out I can see a historical support and resistance level is .00133820
On the day chart, we have completed an inverse head and shoulders.
After our breakout we have managed to start to form a neutral pennant suggesting it will breakout either way.
A fib retrace suggest that we have bounced off the 50%...
Welcome to another update, todays chart will be on NEOBTC currently resting on the .50 Fibonacci level, will bulls have momentum to push NEO further up?
Points to consider,
- Trend change attempt
- Double bottom as local support
- EMA’s giving resistance
- Stochastics in lower regions
- RSI bouncing of support
- Volume clearly declining
NEO / USDT 4h
See chart & setup
Breakout trendline & +TR (bullish trend reversal) setup
At the Rk3 (RyuKumo level 3 red cloud) resistance shown on chart
Next level for bulls to breakout to turning bullish above shown on chart
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Coin touched the support line and secured well. We may still have small movement within the figure before a substantial rise. For those who like figures, RSI forming a symmetrical triangle which may reinforce the hypothesis of a possible high.