Update On NEO and Ethereum + ETH/BTC Spike Confirmation
NEO Daily (NEO/USD)
We're currently at the 0.236 Fibonacci retracement after we've reached high highs on the RSI and MACD. The MACD looks like turning towards the signal line and I'm very curios if a bearish cross will happen or if we'll see a MACD bounce. Notice how the 55 day EMA (blue) played an important role earlier this year, when a lot of accumulation happened (market by the green square).
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NEO Daily (NEO/BTC)
NEO couldn't maintain the recent high and lost sats value. We are currently at the 0.382 retracement, being pressed between the 21 day EMA (yellow) and the 55 (blue). There's also a bearish MACD cross, after a bearish 'M' on the Histogram and if Bitcoin continues the sideways movement, I'd say that the 0.5 Fibonacci retracement is our next stop.
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NEO - Moving Averages
We saw a rejection right below the 200 day EMA and are still far away from our 'main' Averages (21 & 55). This random bounce at 12$ is in fact not that random at all: we stopped exactly at the 55 EMA on the 3 day chart (right chart).
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Ethereum Daily
ETH is trying to hold this high level at +180$, but bearish signs continue to show up. We have a bearish divergence on the RSI and the MACD histogram flattened out and even starts to shrink, which might be an early sign on a brief correction. Also, the trading Volume has decreased significantly these days. Again, notice the importance of the 55 day EMA (blue).
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ETH/BTC
In my previous ETH update post I wrote about a possible ETH/BTC spike .... and here it is. We bounced just above the 30 mark RSI and had a bullish MACD cross. Perhaps we'll revisit now the top line of the symmetrical triangle.
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ETH - Moving Averages
Currently finding resistance at the 200 day EMA and same as the NEO chart, we'll far away from our usual Averages.
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Thanks for reading!
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