$NEOBTC - Alts are finally rising. Is NEO following?
NEO has finally bounced off the bottom and indicators favour a bullish momentum developing.
1. PPO Bounced once again on the bullish trendline that intially showed the bullish divergence
2. Ichimoku cloud has crossed bullish and price has entered the kumo. A cross to the other edge is likely and it will signify important bullish cross on longer timeframes.
3. A descending wedge has formed with bullish bias.
4. RSI and CCI still indicate a bullish momentum
5. MACD is neutral
Bullish scenario
A bullish break of the rising wedge will help to push the price to the other side of the kumo starting a long awaited bull run for NEO.
Initial target is at +12% and long term targets as per my previous analysis once we break the big support line (now resistance) depicted at the top of the chart.
Bearish scenario
A bearish break of the wedge could take us back to the baseline where we started this bounce.
Trade safe.
1. PPO Bounced once again on the bullish trendline that intially showed the bullish divergence
2. Ichimoku cloud has crossed bullish and price has entered the kumo. A cross to the other edge is likely and it will signify important bullish cross on longer timeframes.
3. A descending wedge has formed with bullish bias.
4. RSI and CCI still indicate a bullish momentum
5. MACD is neutral
Bullish scenario
A bullish break of the rising wedge will help to push the price to the other side of the kumo starting a long awaited bull run for NEO.
Initial target is at +12% and long term targets as per my previous analysis once we break the big support line (now resistance) depicted at the top of the chart.
Bearish scenario
A bearish break of the wedge could take us back to the baseline where we started this bounce.
Trade safe.
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