NEO/ETH getting ready for a new ride
Disclaimer: I am new to trading, I recently started learning about Technical Analysis, strategies, patterns etc. So please, excuse my mistakes, I am here to learn!
In the 1 day chart, we see NEO forming a Descending Wedge pattern, with lower highs and lower lows, indicating bullish signs.
It's also closing up to the 2 old support levels (bottom light-blue lines).
RSI is also indicating oversold, which is bullish sign.
The current price is way off the ma(50), ma(100) and ma(200), meaning there is a lot of fear in the market, a lot of selloff.
Generally, quite a discount point for buying in NEO :)
I bought a small amount when the price was at 0.10503, and I bought a bit again at 0.09282.
If it keeps going down to the support lines, I'll keep buying small bits, expecting it to shoot up right after.
I'd appreciate feedback!
In the 1 day chart, we see NEO forming a Descending Wedge pattern, with lower highs and lower lows, indicating bullish signs.
It's also closing up to the 2 old support levels (bottom light-blue lines).
RSI is also indicating oversold, which is bullish sign.
The current price is way off the ma(50), ma(100) and ma(200), meaning there is a lot of fear in the market, a lot of selloff.
Generally, quite a discount point for buying in NEO :)
I bought a small amount when the price was at 0.10503, and I bought a bit again at 0.09282.
If it keeps going down to the support lines, I'll keep buying small bits, expecting it to shoot up right after.
I'd appreciate feedback!
Penafian
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