Long

NEO/ETH getting ready for a new ride

Disclaimer: I am new to trading, I recently started learning about Technical Analysis, strategies, patterns etc. So please, excuse my mistakes, I am here to learn!

In the 1 day chart, we see NEO forming a Descending Wedge pattern, with lower highs and lower lows, indicating bullish signs.
It's also closing up to the 2 old support levels (bottom light-blue lines).
RSI is also indicating oversold, which is bullish sign.
The current price is way off the ma(50), ma(100) and ma(200), meaning there is a lot of fear in the market, a lot of selloff.

Generally, quite a discount point for buying in NEO :)

I bought a small amount when the price was at 0.10503, and I bought a bit again at 0.09282.
If it keeps going down to the support lines, I'll keep buying small bits, expecting it to shoot up right after.

I'd appreciate feedback!
Chart PatternsEthereum (Cryptocurrency)Technical IndicatorsNEONEOETHTrend Analysis

Disclaimer