NEO Has Potential to make over 150% Profits! In Depth Analysis.Hey, I am back with another Analysis, but this in more depth looking at NEO/USDT .
So as you may know, many altcoins are breaking out as we are currently in the alternative coins season.
But, do you know how to enter, or spot the breakout before it happens?
Cryptocurrencies makes this very simple in the alt season.
Why you ask? Let me explain.
The alpha and omega of catching a breakout in alt season is for the price to break major resistance area, or even be testing because currently there resistance areas are very likely to be broken. So you can either buy the breakout, or buy in the resistance area.
The reason alts are going so crazy right now is because of Bitcoin's high dominance that is seeing a correction.
Just look at any xxx/BTC chart and you will see how much they are undervalued.
Let's for example look at ICX , the chart looks very much alike NEO chart.
The price has broken resistance level of 0.4380$ and price has popped like crazy! This is a thing you have to search for in charts these days, not fomoing into a Coin that has already seen over 50% move..
Another example, VET.
I could find way more coins that have made similar breakout, but that's not the point here, look on BAT on yourself and try to spot the resistance area and breakout.
I hope you understand my point, now let's continue with NEO.
4H time frame
As you can see, we have a lot of bullish confirmations such as.
- Riding a 50 EMA
- Bullish divergence
- Strong uptrend channel with volume..
Daily time frame has also a bullish divergence and RSI made a higher low also!
And now looking at current chart, weekly.
Again, very bullish RSI, MACD and a possible Elliott wave indicating a 150% move!
And that's it, don't forget to follow not to miss on updates and future Crypto analysis, there will be much more in this Alt coins season!
Cheers,
Tibor
