NEOUSD, Forms Crucial Ascending-Wedge, Important Considerations!

Hello Traders Investors And Community,

Welcome to this analysis about NEOUSD, looking at the 4-hour timeframe perspectives. As the cryptocurrency market divergence increases more there are coins forming formation with a rather bullish edge, coins that have a more neutral structure and coins that have a high-possibility bearish development structure. With NEOUSD it is the case that NEOUSD is in a decisive formational structure that has a increased bearish edge which should not underestimated here, especially with the formation that I recently detected this can lead to an initial breakout to the downside and approaching of the lower supports before a back-out can emerge, therefore it is important to be prepared on such possible volatilities and in this case I detected all the important levels.

As when looking at my chart now we can watch there that NEOUSD firstly established this decisive ascending-wedge-formation in the structure with the coherent wave-count in the wedge-formation and the waves A to D already finished, now with the approaching of the lower boundary of the wedge this will be the likely origin of the wave E to the upside that will move on and finalize the wave-count. The crucial thing is that NEOUSD then will run directly into this dynamic resistance-cluster marked in my chart in red which is forming in between the descending-trend-line and the 100-EMA in red, as this is a range of accumulated supply it is likely that NEOUSD shows a pullback from there which will move on and complete the wedge-formation to the downside, such a breakout will activate the lower targets and NEOUSD will likely reach them in the upcoming times. This does not mean NEOUSD is completely bearish as there is a solid support base from where it can back-up and show further increased demand with bullish developments.

In this manner, thank you for watching my analysis about NEOUSD and its decisive ascending-wedge-formation with the upcoming scenarios to consider, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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Information is only educational and should not be used to take action in the market.