The NEO market has been nice and volatile against Bitcoin recently providing excellent trading opportunities for the shorter term traders. Lets take a look at the chart.
NEO vs BTC
The 1day candles give us a clear view of the recent carnage and a good idea of the immediate support levels.
The experienced trader will notice the massive cup and handle is busy forming.
I am looking towards 0.01 btc as critical near term support and consolidation above this level will keep me bullish on Neo.
Should support fail at 0.01 there will be a new floor set.
Resistance is pretty solid around 0.014 – 0.015 and we will most likely see a battle between the bulls and bears this coming week.
Look for the moon above 0.015, safe trades.