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NEOBTC trade ideas

NEOBTC: 1 Hour Time frame Chart PatternsConclusion for today's NEOBTC analysis: Price closing above ~0.001665 implies more bullish upside in NEOBTC Intraday timeframe analysis of NEOBTC is presented using a candlestick chart. April 05, 2019 to May 14, 2019 saw NEOBTC remain inside of a bearish channel that is shown on the chart with a breakout following a day after. The bullish implication of the breakout is currently still active even though a sideways movement has resulted. The upper and lower boundary of the ranging environment for price that has lasted over 3 weeks is also drawn with NEOBTC currently trading in the middle of the range. The best course of action is therefore to wait for further price development to ensure the continuation of the May 15, 2019 bullish breakout. Buying above the upper boundary of the range i.e. 0.001665 can be considered as part of a conservative strategy or even buying above the May 30, 2019 price high of 0.001713. Initiation of long (buy) orders prior to breakout is hence considered less conservative. This is due to the fact that it is not yet certain that the ranging movement is complete and prices having a chance to even head lower to test support between 0.001412 and 0.001356.
by Coin_Analyst
NEO - 9 days onIn the last update we saw NEO finally had a change in trend direction, from what seemed the longest time, with a Higher High and Higher Low. It then broke down a little from the blue line before exploding though to make a new Higher High at 0.001647btc for a total of a 16% rise. Then a typical retrace of 0.5 on the fib, to then re-test the last higher high. It got up there but didn't have the strength to break past, lowering volume and rsi. Making a double top with a predictable fall. Where are we now? We are sitting in-between a support and resistance zone but also hidden is we are sitting on the 0.618 fibs. Although at first glance it looks like we are going back to re-test support, there is also the possibility that we bounce up from here. At this moment it probably best to wait for a confirmation to make a decision, however if you do make a trade make sure to set those stops to keep your risk low. As like everyone else on this site, these are just ideas based on what we see. If you have any thoughts or ideas please share below.
by System791