I have never charted NEO before but it is definitely on my radar now given its recent meteoric rise.
Cloud support looks good, but Stoch shows overbought and the RSI looks to be weakening. I expect one of three things:
1. A dip back to Support 1 before more upside.
2. A fall back to Support 2. If this happens I fear that Support 1 will become resistance and the threat of H&S would be increased.
3. A drop back down to Support 3 or 4.
With all of the craziness with BTC in the past weeks no one really knows what will happen. But I think NEO has a bright future. Happy trading.
Cloud support looks good, but Stoch shows overbought and the RSI looks to be weakening. I expect one of three things:
1. A dip back to Support 1 before more upside.
2. A fall back to Support 2. If this happens I fear that Support 1 will become resistance and the threat of H&S would be increased.
3. A drop back down to Support 3 or 4.
With all of the craziness with BTC in the past weeks no one really knows what will happen. But I think NEO has a bright future. Happy trading.
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Some pretty good micro-trading opportunities on NEO atm. Just bought a stack at .01 and sold again 30 seconds later at .0105. Pretty good profit for 30 seconds work. Just be careful and watch a 15 min chart or lower.
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Something like this maybe.
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Here is the set up I am using to trade at the moment. Not 100% sure about the resistance line, but the support line is pretty solid.
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*by support line I mean the ascending purple line in the triangle.
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Update
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Beware of market manipulation. I believe there are several entities with large BTC volume trying to manipulate the price. Bigger I have seen is a 50 BTC entity.
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Strong recent support. Expecting a bounce here
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H&S
