Neousd
NEOUSDT (NEO) - UPTREND CONTINUATION ANALYSIS 🔎
- NEOUSDT brokeout above the descending trendline resistance (1).
- Price hit a swing high and retraced for a retest (1) of the descending trendline resistance (1).
- Price the bounced off the retest (1), breaking out above the descending trendline resistance (2), hitting a new swing high.
- Price is currently retracing for a retest (2) of the descending trendline resistance (2), key fibonacci retracement levels and ascending trendline support.
- The current retracement is resisted by the descending trendline resistance (3).
- We see another bounce off the retest (2).
BUY ENTRY ⬆️
- Aggressive (risky) : Key fibonacci retracement levels.
- Conservative : breakout above the descending trendline resistance (3).
TARGETS 🎯
- Swing high (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.
NEO technical vs sentimentalin NEOUSDT sentimental analysis has strong bearish signals, but technical analysis is not really on the same side. trading in neo is a bit risky, but remember that:
1- when stop loss-hunt doesn't work, price tends to increase even sharper.
2- semi-good news for NEO 3. is on go till March (not that powerful)
3- weekly time-frame is really positive
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NEO breaking out of the MatrixNEO looks to be breaking out in an Elliott 3rd wave. After multiple breaks of long term resistance, this could be the time that it finally doesn't look back. And with wave 3 usually being the most powerful, there's a strong case this will hold this time. Lots of room to grow with resistance at 40 and 90.