NEOUSD Elliott Wave Technical Analysis 19 January 2023
4 Hour
NEO coin U.S.dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: Wave 1 of Motive
Details: Wave 5 is always .618 x wave 1 through wave 3
Wave Cancel invalid Level: 5.96
NEO coin U.S.dollar(NEOUSD)Trading Strategy: Neo Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again in wave (2) larger Degree
NEO coin U.S.dollar(NEOUSD)Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators have hidden bullish divergence the price trend reversal
Daily
NEO coin U.S.dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Diagonal
Position: Wave 5
Direction Next higher Degrees: Sub-wave of Wave C
Details: Wave ((5)) tends to end Prices are rising again.
Wave Cancel invalid Level: 5.96
NEO coin U.S.dollar(NEOUSD) Trading Strategy: NEO has recovered well from the 5.96 level, but even so, the price is still below the MA200, which may still be under pressure from selling pressure. And there is a reversal chance in wave 2 and an opportunity to join the trend again once wave 2 completes.
NEO coin U.S.dollar(NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish
