Neo bounced nicely off the 50%FIB level back on the breakdown from the channel and has since bounce off the demand zone and is trying to make its move back up to the supply zone around the 1.618%FIB at $19.50. There is a resistance spot around $19 before getting up to the supply zone but RSI looks like it could be coming down after getting near resistance.
While MACD histo has turned positive and the signal line just recently crossed over bullish and could spell for more upside in near future. A small pullback here to reset the RSI could help fuel a move higher later on so something to watch here.
U obviously don’t know a correction pattern. Neo is far from taking off.. Not until it hits 8 bucks
CM_Trades
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@mfibbs, First of all never said we weren’t going down more. All I said was if we could breakout from here there is nice gains to be had. Please read before commenting, the words ‘bottom’ or ‘never going lower’ were not used. Thanks for your input!
CM_Trades
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@mfibbs, $17 to $20 is very nice return for a few days in a trade ;)
Rob1n2
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$19 before getting up to the supply zone but RSI looks like it could be coming down after getting near resistance.
My english is not that good. Does this mean Neo should be heading for the 19.48?
CM_Trades
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@Rob1n2, If Bitcoin could get above resistance it will help the entire market move up and NEO could hit that level. If not, we will move down to the demand zone (support) around $18