NEO / BTC - Patiently waiting to Explode and waiting some more..
Hey everyone, just a quick update on NEO from my last video linked below..
Right now I'm overall waiting on NEO to give me some additional indication of where she wants to do. From the larger time frame perspectives NEO seems to be overall up trending (long timeframe MAs, price action is above) but as I move down into lower charts i get the feeling some downside action for now. So what does that mean, although price action is above the 36 & 200 day (bull) lower levels show price action possible moving to the downside. We'll be waiting to see where the 4hr chart ends up over the next two candles or so and wait for the day close.
15min - 3hr - Overall the slow MAs and larger MAs are moving together and below the MAs. From my perspective the 15 min is leading each higher timeframe in the direction of downside.
We'll need to be patient and wait to see if the 4hr close below the .0129 support. If so this means it will have broken the 36 day moving average and next support will come into play around .0124. From the day, we'll also be watching to see if it finishes out and close below .0129 as well.
Right now I'm overall waiting on NEO to give me some additional indication of where she wants to do. From the larger time frame perspectives NEO seems to be overall up trending (long timeframe MAs, price action is above) but as I move down into lower charts i get the feeling some downside action for now. So what does that mean, although price action is above the 36 & 200 day (bull) lower levels show price action possible moving to the downside. We'll be waiting to see where the 4hr chart ends up over the next two candles or so and wait for the day close.
15min - 3hr - Overall the slow MAs and larger MAs are moving together and below the MAs. From my perspective the 15 min is leading each higher timeframe in the direction of downside.
We'll need to be patient and wait to see if the 4hr close below the .0129 support. If so this means it will have broken the 36 day moving average and next support will come into play around .0124. From the day, we'll also be watching to see if it finishes out and close below .0129 as well.
