NEO/USDT - time to buy before free airdrop
Updated
All NEO holders will get free airdrop of Ontology tokens on 01.March
Break out of ascending triangle was supported with decent volume and there should be more upward movement next few days since everyone likes airdrops and free tokens.
If we draw obvious support and resistance levels and measure the first move entering the triangle we can project that move as a target from break out. It's just below major resistance at 170USD
Breakout of ascending triangle is also supported by Ichimoku cloud. Bullish Kumo breakout, bullish TK cross and as a final check Chikou line is above the price and above the cloud.
(This is the modified version of Ichimoku cloud with little different settings to better reflect more volatile crypto movements.)
I would take partial profit at first resistance around 148USD and rest of the profits at 168USD
Use this idea at your own risk.
Break out of ascending triangle was supported with decent volume and there should be more upward movement next few days since everyone likes airdrops and free tokens.
If we draw obvious support and resistance levels and measure the first move entering the triangle we can project that move as a target from break out. It's just below major resistance at 170USD
Breakout of ascending triangle is also supported by Ichimoku cloud. Bullish Kumo breakout, bullish TK cross and as a final check Chikou line is above the price and above the cloud.
(This is the modified version of Ichimoku cloud with little different settings to better reflect more volatile crypto movements.)
I would take partial profit at first resistance around 148USD and rest of the profits at 168USD
Use this idea at your own risk.
Note
How can i link another chart here?Note
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<p><a href="tradingview.com/chart/NEOUSDT/H6LErPuy-Update/">Update</a> by <a href="tradingview.com/u/Morphmine/">Morphmine</a> on <a href="tradingview.com/">TradingView.com</a></p>
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Note
Same chart but without Ichimoku cloud .
Red line below consolidation area is top level of cloud which now holds as strong support. Place your stop loss just below that level
Note
I would like to see more volume supporting upward movement but there is not much. We could probably retrace for few points before continuing to my targets. Stop loss should be just below that small consolidation area.Note
Just to remind, no need to be afraid. We are just retracing. Last two candles (on 4h chart) are bullish. You can see big lower wicks which indicates that buyers are pushing the price up. Volume is slowly rising but we need more for strong push up. My targets are still valid.Trade closed: stop reached
Stop loss hit. I am out of position and waiting for next opportunity to buy. Price will rise before 1st March
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