Hello Traders,
As you all know that,either to buy or sell, patterns formed in crypto trading are much helpful for taking entry in an altcoin. The study of patterns provides a good opportunity to every trader for stepping into crytpo. I always try my best to find out the bullish pattern for taking the entry.
Here I have found a very handy bullish pattern, cup and handle, on NEO/BTC. As per formation of aforesaid pattern, the NEO is ready to move upward.
Entry Point:
I have taken the entry at 1171696 stoshies for at least 10% profit. In case if it goes down, then I will buy again for the purpose of averaging it.
The possibility of breakout has been formed on the daily time frame.
Tehnical Analysis Chart:
Have a look at the technical chart.
image source: www.Tradingview.com
Indicators Used:
- Relative strength index
- MACD
