NEO/BTC (Elliott's Wave Theory Perspective)
The chart looks like it is breaking out of a downtrend (starting an Elliott's Wave pattern )and flirting with the long term resistance entering 2018 with a vengeance.
The ultra high (70+) RSI and closing MACD is indicative of a reversal typically between back to 0.5 fib to 0.618 fib of wave 1 as indicated in the chart above. And having a strong run into the third wave.
***Will be watching closely over next few days***
Good Luck Guys!
The ultra high (70+) RSI and closing MACD is indicative of a reversal typically between back to 0.5 fib to 0.618 fib of wave 1 as indicated in the chart above. And having a strong run into the third wave.
***Will be watching closely over next few days***
Good Luck Guys!
Penafian
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