There is a possibility for the beginning of an uptrend in NEOBTC

18 paź 2018

Technical analysis:
. NEO/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 45.
. While the RSI downtrend is not broken, bearish wave in price would continue.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.002600 to 0.002000). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.002600)
Ending of entry zone (0.002000)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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