NEOUSD Technical Analysis (19.12.2017) | Looking to Buy

in #cryptocurrency7 years ago (edited)

CryptoKraze here



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In this post I am going to cover technical analysis of NEOUSD for short term basis and I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of NEOUSD


Chart on 1 Hour Time Frame

If we look at 1 hour chart and draw a trend line, you will see Neo has bounced perfectly from the trendline and it will continue to move up. Next I am looking at the RSI and it is well below 50 level. At the same time RSI is forming a sharkfin pattern that is sign of reversal, so it is a bullish sign and I am looking to buy it. Now have a look at bollinger bands and we will notice that price is above the median line. There is good space to be covered before price can touch the first upper band.

  • I am looking to buy on 1 hour chart base with my take profit levels around 85 to 90.
  • Set your Stop Losses as these are must for trading if you don't know the averaging technique.

neo1hr.png



Chart on 30 Minutes Time Frame

On 30 minutes charts Neo has bounced perfectly from the trendline and it will continue to move up. RSI has gone below 30 level and move up now at 45 level . At the same time RSI has formed a sharkfin pattern that is sign of reversal, so it is a bullish sign and I am looking to buy it. Now have a look at bollinger bands and we will notice that price has bounced right from the 3rd lower band and it is superb sign for a short term buy entry. There is good space to be covered before price can touch the first upper band.

  • I am looking to buy on 30 minutes chart base with my take profit levels around 82 to 84.
  • Set your Stop Losses as these are must for trading if you don't know the averaging technique.

neo30min.png



Chart on 15 Minutes Time Frame (Scalp Trade)

If we look at 15 minutes chart RSI has gone below 30 level and move up now at 45 level . At the same time RSI has formed a sharkfin pattern that is sign of reversal, so it is a bullish sign and I am looking to buy it. Now have a look at bollinger bands and we will notice that price has bounced right from the 3rd lower band and it is superb sign for a short term buy entry. There is good space to be covered before price can touch the first upper band.

  • I am looking to buy on 15 minutes chart base with my take profit levels around 80 to 82.
  • Set your Stop Losses as these are must for trading if you don't know the averaging technique.

neo15min.png



If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis



Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected pump or dump will make this analysis void.



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It is the right time mate. Almosy every altcoin is at bottom and leaving its launchpad. So get in some of fundamentally strong coins

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very good post, thank you @cryptokraze

You are welcome. More will come

I am pretty pleased with your info
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Thanks mate, I will add more value in coming days . Just very busy in my regular job these days.

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For wallets, I personally use a Ledger Nano S along with NEON to access it but you guys can find the full list at http://cryptoupdates.net/guides/neo/best-neo-wallets.