Could Neo be ready for a bounce?
Updated
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
On the negative side we have
If it is to bounce here - a target of 0.382 on a reverse Fibs where it is located now would be 30% (0.001715btc)
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 purple line) in perfect inlinement with a FIB level.
- Lowering volume on a decending trend shows less people selling.
On the negative side we have
- Under all Exponential Moving Averages
- Been weak the last 39 days
- I would like to see a reversal price action signal.
If it is to bounce here - a target of 0.382 on a reverse Fibs where it is located now would be 30% (0.001715btc)
Note
The 0.786 didn't hold.Next level is 1:1 - full retrace.
Note
This idea failed in terms of Sat value. (press the arrow twice) 6months early.In terms of USD though is way higher! due to the huge increase in BTC price.
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