Short term NEO trade?

in #cryptocurrency • 7 years ago

staking-neo-for-passive-income-image.jpg

Neo is currently good for a short term rally and may offer a change for some small profits.

neo.jpg

We have been trending down for a while and has made multiple contact points with the trend line. The chart has been forming an hourly equilibrium pattern and there is still a chance that the trend will continue. However, the short term strength from BTC and the correlation of most charts could cause NEO to breakout from this down trend at least for a short while.
We have not made contact with the 100EMA for a few days so I am expecting this to happen soon. Also We are just above the 50 line on the RSI.

With a tight stop, NEO may could give you $4-5 on each unit over the next day or 2. This would be a counter-trend trade so exercise caution.

DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif

This is not trading advice, just a possible scenario.

#bitcoin #trading #blockchain #neo
7 years ago in #cryptocurrency by
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