Descending Triangle , buy signal ?
Updated
This AT is just for sharing my opinion and debate with yours . Its not what is going to happend . Do your own Ressearch !
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For me we are in a descending Triangle with strong support tested several times
Old resist in red , Tested support in green arrow
NEO is reaching strong support with decrease of volume in the end of triangle since 29/04
Actual candle at low Bollinger :
BB + Support = Could be a bounce
In D1, RSI is at 38 , its not so low so becarreful
About resistance first step will be to break the blue one at 0.007500 with enough power to reach 0.008 before attack nexts ones in red
0.008 is for me an important resistance because :
- psychological to start uptrend
- Pivot Point P
- Ichimoku thin and horizontal
NEO should attack this one but will depend of BTC
IS BTC going to repeat his fractal of 12/05 with a big green candle ?
NEO could follow
Objective will be same as the base of triangle
We could wait few days more to have an RSI oversold in H4, and D1
Please share your opinion
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For me we are in a descending Triangle with strong support tested several times
Old resist in red , Tested support in green arrow
NEO is reaching strong support with decrease of volume in the end of triangle since 29/04
Actual candle at low Bollinger :
BB + Support = Could be a bounce
In D1, RSI is at 38 , its not so low so becarreful
About resistance first step will be to break the blue one at 0.007500 with enough power to reach 0.008 before attack nexts ones in red
0.008 is for me an important resistance because :
- psychological to start uptrend
- Pivot Point P
- Ichimoku thin and horizontal
NEO should attack this one but will depend of BTC
IS BTC going to repeat his fractal of 12/05 with a big green candle ?
NEO could follow
Objective will be same as the base of triangle
We could wait few days more to have an RSI oversold in H4, and D1
Please share your opinion
Note
Big red candle of BTC , NEO stay strong ! ( like many other Alts )Note
Neo Seems to went back at his level before bull run of end 2017
RSI @ 25 !
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