Weekly Analysis - NEO BTC

Hello guys I'm starting a weekly analysis on the top 10 marketcap cryptocurrencies, to stay updated and practice. Here is for NEOBTC.

NEO is looking like it is about to bottom out, so it might be a great buy opportunity for a swing trade.

However on the 4H chart we see a descending triangle which is a bearish sign.

Also for such a rally like in december 2017 to happen, I would like to see volume going up more than that.

So right now, I'd be patient untill we break out of this trangle, while keeping on eye on Volume.

That's all for today. I might update this idea in the next days so you should follow me if you don't want to miss it :p

Feel free to comment your opinion and thoughts !

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Kommentera:

Two days later... Bear wedge confirmed.

Kommentera:

After we hit new lows from this bear wedge, price started to climb back up, however I don't think the bulls have the strengh required to go higher as of today. Price range is narrowing, and we could very well go test a double bottom..