Hello my friends!!! I want to give you a brief explanation about what NEO could do the upcoming days.
As you can see the rising wedge I created in my previous analysis worked out perfectly.
Neo has formed a descending triangle but has broken above the resistance line which is a very good thing to see. Now we could see a rise to 56 dollars where the next resistance lies.
However, If neo falls back below the support line of descending triangle, we could see a retracement to the 76% fibonacci retracement level which is a huge support for NEO.
Keep in mind that this is the one hour chart and a short-term analysis.
I am trying my best to make it easy for you guys to read the wild and mysterious charts cryptocurrencies have!
Follow me and let me show you the horizon.
Greetings, Krypton
As you can see the rising wedge I created in my previous analysis worked out perfectly.
Neo has formed a descending triangle but has broken above the resistance line which is a very good thing to see. Now we could see a rise to 56 dollars where the next resistance lies.
However, If neo falls back below the support line of descending triangle, we could see a retracement to the 76% fibonacci retracement level which is a huge support for NEO.
Keep in mind that this is the one hour chart and a short-term analysis.
I am trying my best to make it easy for you guys to read the wild and mysterious charts cryptocurrencies have!
Follow me and let me show you the horizon.
Greetings, Krypton