NEO Scalp Long
NEO seems to be bottoming out a bit, at least in the meantime. I have opened a position here at .0069 sats.
Reasons:
1) Decent support area from a previous all time high. This zone was tested with a long rejection wick on 3/18 as well. Price seems to want to hold this zone.
2) Ichimoku: We are in a bear market for sure as price is below cloud, cloud is red and Kijun is above Tenkan. When looking at the Kijun we can see that it has not been tested in quite some time and my target for this move is a tenkan touch. When in a down market we need a reversal sign which support zone + an RSI div gives us that.
3) RSI Div: RSI has made two higher highs while price has made two lower lows. We can see price rounding into a bottom as the slope of descent is drastically decreasing.
Target: My initial target for this move is a Kijun touch in the .008 Sat range which would probably coincide with a Hidden/Continuation Divergence on the RSI as it would create a higher high when price would be making a lower high so that would signal a solid exit point.
Reasons:
1) Decent support area from a previous all time high. This zone was tested with a long rejection wick on 3/18 as well. Price seems to want to hold this zone.
2) Ichimoku: We are in a bear market for sure as price is below cloud, cloud is red and Kijun is above Tenkan. When looking at the Kijun we can see that it has not been tested in quite some time and my target for this move is a tenkan touch. When in a down market we need a reversal sign which support zone + an RSI div gives us that.
3) RSI Div: RSI has made two higher highs while price has made two lower lows. We can see price rounding into a bottom as the slope of descent is drastically decreasing.
Target: My initial target for this move is a Kijun touch in the .008 Sat range which would probably coincide with a Hidden/Continuation Divergence on the RSI as it would create a higher high when price would be making a lower high so that would signal a solid exit point.
Nota
That went well!
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