here i have set very good example on how you can trade EMA
it's common for every asset that it follow the price of EMA ( the moving average )
let's take example i set 7 ema on weekly chart so it's total 49 days moving average so if price make bounce above this ema on weekly something has been cooking in the asset . it's 49 days downtrend
same breakdown of EMA...
Here I go short on NEO and NEO will go down. The price is testing the major support, so now I go 5x short and the bearish breakout will start. And NEO will go down. See you down there
I'm already upadating the last shorts and they're playing out very well so far
Doge hit -20% so far
Qtum hit -20% so far
Ethereum Classic hit -20% so far
Bitcoin Cash hit -35% so...
This pattern is almost perfectly symmetrical - it took 40 days to reach the top (140% rise) and now we are on day 79 for almost an 100% retracement (30% away from start of run).
There are a mix of signals here:
On the positive side we have
A bullish divergence with RSI into an oversold position.
Stoch & MACD looking ready to reverse
A Support (dotted...
If the price will approach the Support zone sharply we should look for an accurate Buy entry above it.
It falls a lot of time and the correction can be huge!
Push like if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thank you very much and thank you to the responsive commentators for their understanding.
I spend my...
Current sell frenzy on NEO reminds me of sell-off from 2019, very similar pattern in both the price action and the Stoch RSI.
I wonder if we will see the same level of sell-off (54% from peak, would put it neatly at the below support) and then a little relief rally from that spot.
Just a theory, we will see..
I have a lot of love for NEO from the 2017 era and with NEO 3 coming in 2021, very bullish on this project.
Managed to pump even at a time that older projects were suffering, embraced DeFi and now exploring other areas including file storage.
Fundamentals are good and the project still has a lot of goodwill from the famous epic pump during the first...
