$NEO #NEOBTC Technical Analysis - Day Trader Explains
Hello Lads and ladies,
Today we will be looking at NEOBTC, requested by myself this time, since I saw this amazing opportunity on NEOBTC, I thought I have to let everyone know and follow it myself.
So to start off, today TA is not very hard to do and should be obvious from the second you look at it, therefore we will immediately start with it.
Looking at NEOBTC we see a big downtrend channel, respecting both downtrend resistance and downtrend support even with the exact angle. Now finally like many other coins NEOBTC has come down to its very bottom.
Nevertheless, we see that it is going extremely flat and confining its support very very clearly. Which in this case would mean that we have a strong support and the price is at this support.
Having this type of trade set up provides one with almost the BEST Risk Reward Ratio because the trade would be invalid if NEOBTC breaks its support, yet the losses compared to the possible earnings are very very small since the price is at the very bottom.
The NEOBTC chart here is even on the daily chart and seeing such a flat movement on the support means most of the time a big accumulation and then being followed by a very nice breakout and pump.
This increase in buying can also be seen while looking at the increasing RSI,yer really flat chart.
This once again means a bullish divergence with an increasing chance of a breakout.
Based on the pretty obvious TA above here is how I will make my own trade.
NEO/BTC Bitfinex
BUY 2570 - 2550 - 2525 - 2500 - 2495 - 2375
Targets 3369 - 4510 - 5722 - 6706 - 7904 - 8845
STOP LOSS CLOSE below 1800
Today we will be looking at NEOBTC, requested by myself this time, since I saw this amazing opportunity on NEOBTC, I thought I have to let everyone know and follow it myself.
So to start off, today TA is not very hard to do and should be obvious from the second you look at it, therefore we will immediately start with it.
Looking at NEOBTC we see a big downtrend channel, respecting both downtrend resistance and downtrend support even with the exact angle. Now finally like many other coins NEOBTC has come down to its very bottom.
Nevertheless, we see that it is going extremely flat and confining its support very very clearly. Which in this case would mean that we have a strong support and the price is at this support.
Having this type of trade set up provides one with almost the BEST Risk Reward Ratio because the trade would be invalid if NEOBTC breaks its support, yet the losses compared to the possible earnings are very very small since the price is at the very bottom.
The NEOBTC chart here is even on the daily chart and seeing such a flat movement on the support means most of the time a big accumulation and then being followed by a very nice breakout and pump.
This increase in buying can also be seen while looking at the increasing RSI,yer really flat chart.
This once again means a bullish divergence with an increasing chance of a breakout.
Based on the pretty obvious TA above here is how I will make my own trade.
NEO/BTC Bitfinex
BUY 2570 - 2550 - 2525 - 2500 - 2495 - 2375
Targets 3369 - 4510 - 5722 - 6706 - 7904 - 8845
STOP LOSS CLOSE below 1800
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Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
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