NEOUSD Amazing rally but it's coming to an end for now.NEO (NEOUSD) had the strongest 1W green candle last week since April 2021, which was towards the end of the previous Bull Cycle. Even though it broke above the 1W MA50 (green trend-line) for the first time since December 06 2021, also using the 1W MA50 (blue trend-line) as Support, the rally stopped on Resistance 1 (15.7500). This is technically putting an end to this hyper aggressive bullish sequence, until we see a week closing above it. The 1W RSI also got rejected on the 70.00 overbought barrier.
A similar price action was seen during the accumulation phase of the previous Cycle and fractal wise we could be in a similar situation as the October 28 2019High. Of course this time, the 1W MA100 broke, while in that past phase it broke after Bitcoin's Halving. Regardless of that, we may have an opportunity to buy NEO on the 1W MA50 again, unless it closes a 1W candle above Resistance 1 first. In both cases, the target is the 0.5 Fibonacci retracement level at 29.00.
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Neosignals
NEO Targets $38! Double Bottomed - Pump itThe coin:
NEO founded in 2014, has been to an ATH of $200, surpisingly high but it is quite strong fundamentally:
The project's vision is to realise a "smart economy" by utilizing blockchain technology and smart contracts to issue and manage digitized assets.
The setup:
We find here a double bottom formation on multiple charts, especially the 3D and the weekly time frames
Using the measurement tool for targets, we get a target of just under $38, what would be a gain of 52% from the $25 level
NEO has already successfully claimed the kneckline as support; however, the $25 level is proving tough
Enter above successful claims of this level to mitigate some risk - if BTC takes a dump and brings it down with it
Hopefully we can enjoy some NEO gains in the coming days to weeks...
NEOUSD formed bullish butterfly | Upto 75% expectedPriceline of NEO / US Dollar has formed a bullish butterfly and almost entered in potential reversal zone.
RSI has already visited oversold.
MACD is strong bullish.
Stochastic has given bull cross.
I have defined the targets using Fibonacci sequence.
Buy between: 8.59 to 7.13
Sell between: 9.73 to 12.48
Regards,
Atif Akbar (moon333)
NEO - Is at the right place at the right timeAt around $9.5 NEO is at a place where the lowest it can go is $5.50 and the highest is around $22.00. This is the kind of trade you always want to take. BTC looks to be in the middle of a secular bull market, up is the only way it can go -- with some retracements here and there -- and it will pull NEO along with it. If you get in now this trade will take a few weeks to develop. Be safe and follow me to stay ahead of the curve.