Looking at our trend timeframe we see price has retraced about 60% since making it’s run from 200000 satoshis in January up to 1400000 satoshis back in February. NEO has been in a bear market since. Potential double bottom formation off dynamic support. Stochastic RSI showing momentum has nearly bottomed out.
Shifting over to our pattern timeframe we see price has formed a double bottom @ 720000 satoshis, a 4hour close above 770000 activates our trade. Stochastic RSI showing momentum is bullish.
Conclusion
Wait for a 4hour close above 772500 satoshis for an entry, otherwise expect a drop towards 700000
