NEO/USD - close to accumulation with more than 50% profit pot.
The price of NEO has been really down, even in compare to other assets. It is actually on the very same level where all the hype started in november!
Since the break the price is moving in a perfect downtrend channel (on a log scale, if you´re watching the usual one, it is a falling wedge). At the moment we´re very near the support line.
So the scenario I await here:
We´ll see another ugly dip downwards to around 25 USD area and than correnction upwards at least to 45 USD, the top would be 50 (if we´re supposed to stay in downtrend). So even if we bought in these levels (I recommend to wait for a better setup), we have more than 50% potention for profit on this trade!
Oversold RSI confirms the trade. We have several simmilarities with the last jump up!
Please don´t forget to like or follow if you like what i do!
Since the break the price is moving in a perfect downtrend channel (on a log scale, if you´re watching the usual one, it is a falling wedge). At the moment we´re very near the support line.
So the scenario I await here:
We´ll see another ugly dip downwards to around 25 USD area and than correnction upwards at least to 45 USD, the top would be 50 (if we´re supposed to stay in downtrend). So even if we bought in these levels (I recommend to wait for a better setup), we have more than 50% potention for profit on this trade!
Oversold RSI confirms the trade. We have several simmilarities with the last jump up!
Please don´t forget to like or follow if you like what i do!