Just pointing out a possible inverse head and shoulders pattern that formed on NEOUISD.
I wholeheartedly admit that the target is a stretch, especially considering the amount of resistances that NEO would have to overcome on the way there.
That being said, I calls 'em like I sees 'em, and I'm seeing and inverted head with a couple of inverted shoulders.
(Deleted previous idea and re-posted as I had not drawn the right shoulder height correctly to the end of the wick)
Calling it like I see it...
If this plays out we're looking at the $95 area based on the distance from the neckline, that being said there are some nice support levels going down to maybe provide a bounce back before then.
Still new to this, so...
Neo seems to be trying to setup for another breakout, although volume is still lacking, not expecting anything big, maybe settling around a new zone in the 0.013168 area based on the height of the ascending triangle, and also conveniently the 23.6 fib mark on the correction.
Still a novice with this, i'd appreciate any feedback.
Not financial advice.
Didn't thinkg the falling wedge pattern was gonna play out after the market seemed to have stabilized vertically for a bit there after the breakout, but I don't know maybe it's a 'delayed breakout' if there is such a thing.
Anyway, if this does play out based on the height at the base of the wedge that puts the target at around the 0.012777(ish) area.
Following the breakdown from that triangle pattern, the pattern height tells us that this could be the new local low for NEO.
Still waiting for a proper buy signal, the market has definitely lost steam from its last bull run and needs higher volume levels, and ideally breaking back through those higher fib levels.
Lines in red are the next support zones in the...
Disclaimer: Still new to this and only just learning. Plese do not consider financial advice.
I'm seeing a cup and handle pattern forming on the NEOBTC daily which is a bullish pattern that usually resolves to the upside.
Any constructive criticism welcome.
Still new to this so please do not consider this financial advice at all, I'd also appreciate any constructive criticism.
I'm thinking we see NEO retest a resistance level at around $155, which will either result in a breakout to possible a higher trading range.
Or no (or a failed) breakout happens and the triangle pattern continues...