Technical Analysis - Can you do it ?
Well i am not the best pro trader and no i do not have my own youtube channel. I am just a simple TA guy which loves crypto and statistics.
And yes i have seen so many turorials and i was following so many calls. Some of them good and some of them bad. Well so i decided to do it on my own. And it works very well. Even in a bear market. Can you do it also ? Give it a try.
Step 1 - Select a coin ( NEO )
What is NEO? Well NEO is what we call the Chinese Chain. NEO was founded 2014 and was part in the bull run in 2017.
Maybe the re-branding from Antshares to NEO was one of the factors…. No I am joking. If you want to know more about NEO, please check the Wiki article or the homepage for more details.
Why a new price prediction? Well Neo had a major upgrade. And as we all know sometime this is a time where it can pump.
I will do a simple TA which works best for me. As you can see i have marked the ATH ( which is called the All time high )
Step 2 - Drawing horizontal lines
Well i seek for many touch points as possible. And yes i do not really use magnets. It is only what i see. Try it on your own and you will see that you can spot some resistances and support zones. And here is a step by step guideline which works very well for me.
- I zoom out and check what was the ATH ( All Time High) and some of the lows..
( No I am not checking the ATL ( All time low ) because from my point of view this price is invalid years later.)
- I do some simple line, 2 or 3 at the top and 2 down from the price at the moment
- Then I check if there is / was a trend
- I use my lovely Fibonacci Retracement tool
Step 3 - This is how it looks like
As you can see at the moment we are about 39,93 USDT for NEO. The yellow lines are my support and resistances
and the yellow boxes are my take profit areas. As you can see i have switched from daily to a 2 hour timeframe.
I have placed my orders in this way. I will see how it plays out.
Step 4 - No FINANCIAL ADVICE
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