NEO (Y19.P01.E01).Still Bullish
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Neo has made a remarkable turn and many attribute this to the Chinese governments public stance on blockchain technology.
So it seems many of the local blockchain projects got pumped, including VET, ONT, etc
If you look at the NEO daily chart, we can see its completed the MACRO Ascending pattern (ABCDE), with the bottom found at the 0.886 Fib level (retracement).
Then we can observe a bull flag and a continuation of this bullish trend.
If you look across the 0.5 fib level, one can see that it played a major resistance as well as the 0.382 level.
Hence I anticipate with the help of the ADX and DI chart, that the strength of the buying direction (black line - hit all time high) will start to descend along with the green line.
I anticipate in the short term, hitting 0.5 fib level around $13 and potentially the 0.382 (likely) fib. level before it runs out.
The RSI is indicating we are near the overbought region.
In my mind, it has confluence with the anticipated bitcoin consolidation and anticipated next parabolic advance early next year.
Please give us a thumbs up for a like or agreement
Cheers,
S.Sari \ CryptoProspa
Close up
So it seems many of the local blockchain projects got pumped, including VET, ONT, etc
If you look at the NEO daily chart, we can see its completed the MACRO Ascending pattern (ABCDE), with the bottom found at the 0.886 Fib level (retracement).
Then we can observe a bull flag and a continuation of this bullish trend.
If you look across the 0.5 fib level, one can see that it played a major resistance as well as the 0.382 level.
Hence I anticipate with the help of the ADX and DI chart, that the strength of the buying direction (black line - hit all time high) will start to descend along with the green line.
I anticipate in the short term, hitting 0.5 fib level around $13 and potentially the 0.382 (likely) fib. level before it runs out.
The RSI is indicating we are near the overbought region.
In my mind, it has confluence with the anticipated bitcoin consolidation and anticipated next parabolic advance early next year.
Please give us a thumbs up for a like or agreement
Cheers,
S.Sari \ CryptoProspa
Close up
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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