Taking a quick look at the NEO BTC price action on the longer time frame. NEO continues to find support at the previous levels, the floor is looking more and more solid and the possible breakout the top side of the channel is on the cards.
Support around 0.0024 btc has been tested a few times since August and we can see a nice divergence forming between the price action and momentum. Neo has broken out of its recent bearish trend and traders will be looking to go long as we approach the MA 20.
Resistance in my opinion is as follow, short term resistance is at 0.0025 btc and medium term is around 0.00288 btc. The top of the channel is my long term resistance zone weighing in at around 0.0034 btc. I think there can be a lot of plays in this channel, long and short trades possible.
I will be looking to the top side, except if 0.0024 btc should fail to act as support, that will bring new lows to NEO BTC and I will reassess the situation. Safe trades.