NEOUSD Long
Updated
Could NEOUSD bottomed (and cryptos in general)? We just had a strong bounce on the NEOUSD daily chart at the 0.764 fib retracement level (other pairs are also showing sign of exhaustion).
I'll be monitoring for a potential breakout of the current down trend line. Then look to buy on pullback.
Why NEO? Because I trully believe in the value of the platform and because it's been among the worst performer lately (those usually bounce a lot).
N.B. Quick note on the overall sentiment : LOTS of people turned 100% bearish just yesterday (and try to short the market). That's is an excellent moment to be contrariant and watch for bear traps (which are very powerfull bullish signal). Of course, wait for bear trap signal to materialize : don't be caught buying during a real down trend.
I'll be monitoring for a potential breakout of the current down trend line. Then look to buy on pullback.
Why NEO? Because I trully believe in the value of the platform and because it's been among the worst performer lately (those usually bounce a lot).
N.B. Quick note on the overall sentiment : LOTS of people turned 100% bearish just yesterday (and try to short the market). That's is an excellent moment to be contrariant and watch for bear traps (which are very powerfull bullish signal). Of course, wait for bear trap signal to materialize : don't be caught buying during a real down trend.
Trade active
Going long now after a short pullback. Price can potentially go a bit lower but entering now is good enough.
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