Seems like Neo is headed for a downward turn after it sparks up to its high of yesterday's price $56. I have marked up its 3 key line prices for Neo to watch for. The most important price is its heavy support at the $50 price point I'm almost certain we will be touch this supporting line within this week and it will be something I will be paying close attention to. If we can stay within the $50 support it will determine whether we can bounce back to the $60 price range, BUT if we lose our support at 50 we are looking at the all time lows of $40 range from last week. The 40 price point is weighing in favor more than the bullish scenario I have said. For now I'll be holding cash in order to buy in at the low 40 dollar price point which I have boxed up in the graph as a buying opportunity for yourselves and I.
To recap. 3 key lines -> 1) $56 bull trap I'm expecting within the next 2 days.
2) $50 key support will determine if we go up or down.
3) $44 all time low that I will be expecting to happen once we lose our key support at $50.
To recap. 3 key lines -> 1) $56 bull trap I'm expecting within the next 2 days.
2) $50 key support will determine if we go up or down.
3) $44 all time low that I will be expecting to happen once we lose our key support at $50.
Trade fermée: cible de profit atteinte:
Looks like Neo has surpassed my expectations. Whoa! The most I was expecting was $57 but $58 is a new all time high for this month so far! Neo rocks, but this might be the most obvious bull trap! I'll still be holding cash for now. If Neo can still get to $60 range by today I would say its an easy sell but I'd stay away from buying Neo as of now. My Targets for the rest of the week is the big support at $50. I'll be waiting..
-CryptoeChris
-CryptoeChris