NEO consolidating under resistance at 2400.
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NEO/BTC is currently consolidating under resistance (which is at 2400.) As it sits, we are trading above the 50/100/200 day moving averages, and we have tested that 2400 resistance level several times, so it should be getting weaker and weaker after each test. 2400 was a previously strong support zone, and we see it now acting as resistance. One can either take a speculative play and enter here expecting a break of 2400, or enter on the retest of 2400 as support again. There is a chance if it breaks up above 2400 that it might not retest it as support before continuing higher, so keep that in mind. Also, if anyone wants to get a free stock from Robinhood, feel free to sign up using my referral link below. They also offer feeless cryptocurrency trading on a select few coins if you're in an approved state. I'll put an article down below for those interested in Robinhood crypto. I also accept BTC donations if you guys are feeling generous! :)
Moving average guide (All daily for this post):
50 day MA in Green.
100 day MA in Yellow.
200 day MA in Red.
Entry (Speculative): 2270-2300
Entry if price breaks 2400 (After break up and confirmed retest as support again): 2400-2425
Target 1: 2400 (Major resistance zone.)
Target 2: 2600 (Prior support/resistance zone.)
Target 3: 2900 (Prior support/resistance zone.)
Target 4: 3150 (Prior resistance level.)
SL (Loose): 2150 (Below the 100 day MA.)
SL (Tight): 2250 (Below the 50 and 200 day MA, beware of potential wicks if you choose a tight SL.)
Robinhood crypto article: support.robinhood.com/hc/en-us/articles/360001284423-Commission-Free-Cryptocurrency-Investing
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Moving average guide (All daily for this post):
50 day MA in Green.
100 day MA in Yellow.
200 day MA in Red.
Entry (Speculative): 2270-2300
Entry if price breaks 2400 (After break up and confirmed retest as support again): 2400-2425
Target 1: 2400 (Major resistance zone.)
Target 2: 2600 (Prior support/resistance zone.)
Target 3: 2900 (Prior support/resistance zone.)
Target 4: 3150 (Prior resistance level.)
SL (Loose): 2150 (Below the 100 day MA.)
SL (Tight): 2250 (Below the 50 and 200 day MA, beware of potential wicks if you choose a tight SL.)
Robinhood crypto article: support.robinhood.com/hc/en-us/articles/360001284423-Commission-Free-Cryptocurrency-Investing
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Nota
Target 1 at 2400 has been hit. We got a 50/200 day MA cross as well (green crossing red): Nota
So far we're holding around 2400 which is a good sign. Consolidation on top of old resistance is what we want to see at this point: Nota
Hit target 2 at 2600 on a large wick to 2671. There was a pretty nasty dump that preceded it though.
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