NEO (NEO/USD) Is on The Major Counter Trendline!
Updated
Neo is on the major counter trendline (short-term up-trendline) and if the BTC' finds the support from the current Fibonacci level at 62% then NEO' has a pretty good and safe platform to bounce upwards because the price structure forms the higher low!
The first target would be around 5% where is the historically strong support and resistance area plus different EMA's starts to work as resistances.
The second target would be around 12-15% gain, there are the short term triangle upper trendline and 200EMA.
If we don't find that power to climb upwards and the BTC' continues it's dropping then it's a simple case - first bad sign is a close below trendline which currently work as a support and the second confirmation would be short-term lower low close around $16
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
Please, don't forget to hit the LIKE button to support us!
Best regards!
The first target would be around 5% where is the historically strong support and resistance area plus different EMA's starts to work as resistances.
The second target would be around 12-15% gain, there are the short term triangle upper trendline and 200EMA.
If we don't find that power to climb upwards and the BTC' continues it's dropping then it's a simple case - first bad sign is a close below trendline which currently work as a support and the second confirmation would be short-term lower low close around $16
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
Please, don't forget to hit the LIKE button to support us!
Best regards!
Trade closed: target reached
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