NeoGas | Is It A Bear Or A Bull? 50/50

27 feb 2020

Let's take a look at the NeoGas (GASBTC) chart.

Here we have strong bullish action happening now but things can easily change... Let's take a closer look.

GASBTC is now in an uptrend and completing a strong retrace.

After the peak on 16-Feb., prices dropped below EMA300 until they hit 0.0001681 or EMA50. As soon as EMA50 was hit, a strong bounce started to take place. (EMA50 also coincides with the 0.618 Fib. retracement support for the last bullish wave, adding additional value/strength to this price level).

MA200 has already been conquered (bullish)...
On this setup, prices can easily continue growing and multiple signals are now pointing to just that, additional growth.

EMA300 at 0.0001940 is our main indicator right now...

• Above this level, GASBTC can easily continue growing.
  
• Below this level it can continue to retrace.
  

The orange trendline can also be used/counted for support.

This is not financial advice.
Remember to always have a trading plan/strategy if you decide to trade.

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Namaste.