NEO Bullish Ascending Triangle, Getting Closer To Breakout!

NEO (NEOBTC) has a chart that is basically identical to Skycoin (SKYBTC), which we shared recently.

You can see Skycoin here:

For NEOBTC it can take longer though, as this one is yet to break above EMA50... Let's take a look at the signals:

• Trading above EMA10.
  
• Bullish breakout after retrace.
  
• Volume increasing in favor of the bulls.
  
• The MACD needs work but is trending up.
  
• The RSI is really strong.
  

Overall we have the same chart as SKYBTC but a bit weaker. We can expect NEOBTC to make a strong move within 2-3 weeks max.

Conditions for change: If NEOBTC closes below 0.00139, the triangle pattern is gone. If NEOBTC goes below 0.00127 our view changes from bullish to bearish and a new analysis is needed.

Anything above the 13-May low and we remain bullish long term.

This is not financial advice.

Thanks a lot for reading.

Namaste.

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Previous analysis:

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Bitcoin is moving up...

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Up to 9.7% profits generated since sharing.

Handel aktiv:

Doing good... :)