NEO - 9 days on
In the last update we saw NEO finally had a change in trend direction, from what seemed the longest time, with a Higher High and Higher Low.
It then broke down a little from the blue line before exploding though to make a new Higher High at 0.001647btc for a total of a 16% rise.
Then a typical retrace of 0.5 on the fib, to then re-test the last higher high. It got up there but didn't have the strength to break past, lowering volume and rsi.
Making a double top with a predictable fall.
Where are we now?
We are sitting in-between a support and resistance zone but also hidden is we are sitting on the 0.618 fibs.
Although at first glance it looks like we are going back to re-test support, there is also the possibility that we bounce up from here.
At this moment it probably best to wait for a confirmation to make a decision, however if you do make a trade make sure to set those stops
to keep your risk low.
As like everyone else on this site, these are just ideas based on what we see. If you have any thoughts or ideas please share below.
It then broke down a little from the blue line before exploding though to make a new Higher High at 0.001647btc for a total of a 16% rise.
Then a typical retrace of 0.5 on the fib, to then re-test the last higher high. It got up there but didn't have the strength to break past, lowering volume and rsi.
Making a double top with a predictable fall.
Where are we now?
We are sitting in-between a support and resistance zone but also hidden is we are sitting on the 0.618 fibs.
Although at first glance it looks like we are going back to re-test support, there is also the possibility that we bounce up from here.
At this moment it probably best to wait for a confirmation to make a decision, however if you do make a trade make sure to set those stops
to keep your risk low.
As like everyone else on this site, these are just ideas based on what we see. If you have any thoughts or ideas please share below.
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