NEOBTC ready to rise?

12 Şub 2020

Welcome fellow tradingviewers,

NEO/BTC is showing some real vital signs. With the mini-Altseason we have had the last couple of weeks NEO has been holding back. But now it might just be time to shine!

Monthly:
- We saw a beautiful bullish engulfing candle back in October, indicating more upside.
- The months after october have been slow indicating more upside.

Weekly:
- The last candle closed in a bullish engulfing cande, indicating more upside momentum.
- We are currently testing the 50MA, indicating downside momentum, unless we break it on the first try and find support.
- Weekly MACD crossed bullish, indicating more upside momentum.
- RSI neutral.

Daily:
- This daily candle is looking like a bullish engulfing, which upon close would indicating more upside momentum.
- Daily cup and handle can be found with the breakout level around 1500 sats.
- we are above all MA's and have used them as support, indicating more upside momentum.
- MACD crossed bullish, indicating more upside momentum.
- RSI is neutrals.

In summary:
The most important resistance to break right now would be the 1500 sats area. If this area breaks, the C&H pattern will be breaking out.
The C&H pattern has a target around 2100-2200 sats, if this C&H pattern is going to show us some real strentgh then we might be heading even higher towards the 2600 sats area, but this is too soon to say right now.
Let's focus on what is going to happen in the 1500 sats area first.

This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like!
If you want to share your thoughts, please do so in the comments below!

Kind Regards,
FORALLCRYPTO