NEO/BITCOIN is in a down trend and Beginning of up trend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 28.
Trading suggestion: *The price is in a down trend, but we forecast the uptrend would begin. *There is possibility of temporary retracement to suggested support zone (0.0069 to 0.0055), if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0069)
Ending of entry zone (0.0055)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: (We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
@Vinotemia, No active trade yet, but the idea still remains valid, we are waiting for market reaction to the introduced "Buy zone" as described in "Entry signal".
lensmanbtc
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Thank you for the chart. Is it still active?
ForecastCity
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@greyhill, Yeah, it's fresh, please read its descriptions carefully :)
javiElGato
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Like the detail of the chart and the explanation. Nice to see the "Why" of the trade!. Nice job.