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Neoeur

NEO/USD ($25 Area Weekly Key Support?)💎Technical Analysis Summary💎 NEO/USD -The $25 dollar area is the potential buying interest for long-term investors -This zone has been respected multiple times since September 2017 -If NEO will form any reversal pattern like Double Bottom or Tripple bottom -Our weekly bias increases right here and the chances to retest the $100 increases -This is a long shot so we need to be patient and wait for the proper confirmation -Good luck traders! Stay Safe! ⚠️Please always read the description⚠️ Thanks for donating 💰 via Tradingview coins bitcoinpam 🙏🎉 `````````````````````````````````````````````` If you need help🙋 don't hesitate to Send me a message here PolarHusk 😊 `````````````````````````````````````````````` Trading Involves High Risk ⚠️ Not Financial Advice 💸 Exercise Proper Risk Management 💱 ``````````````````````````````````````````````
BITFINEX:NEOUSD
by PolarHusk
14
NEO and the downtrend – when will it end?!As I posted previously , I noticed a rising wedge (bearish) in NEO’s price pattern (also see “1”). Previous post graph: In the meanwhile, that pattern has held true, first resulting in a sideways trading range (see the rectangle in “2”). Support (“3”) was broken in early March, prolonging the downtrend started in February. We are still in that downward trend channel (see “4”). When will it end? Well… I guess we all noticed the turmoil in Bitcoin’s chart, especially yesterday, bottoming again around $8K. For the moment, it’s best to wait this one out, as long as NEO’s in the downtrend, best to stay away or HODL. The fundamentals remain good, but never argue with the trend. Wait for a trend reversal + confirmation and then buy back in / buy more / simply enjoy the ride back up. In the meantime, do notice that we have a nice bullish cross in the making in 7 and we have an oversold RSI in 8. Also note that they are both still trending downward. But at least we are heading in the right direction. For illustrative purposes, also check the last bullish cross in 5, and the bearish cross in 6. I highlighted the Fibonacci levels, and as you can see, the previous support in 3 coincides with the 38,2% level. We are now trading between the 50% and the 61,8%. Don’t let that negative price action get you down! PS1: please like this post if you like it :p PS2: this is not investment / speculation / gambling advice, DYOR :-) PS3: always great to have you following on twitter for the latest stuff and fundamental analysis! All the best
by A_Cryptastic_Mind
2