NEO Divergences Explanation Importance

Then we have NEO against USD.

Posting this chart mainly for showing how strong bearish divergences in essence are. At the end of 2018 we were making strong bearish divergences, making a significant drop.

After that we’ve seen that it’s making strong bullish divergences and making a substantial upwards movement afterwards, as we tweeted about the falling wedge here too.

I remember that the level it was bouncing from, was also around the 0.618 fib level of the whole thing.

From this bearish divergence, it already made a 35-40% drop.
From the bullish divergence back in the beginning of April, we’ve seen an increase of 105%.

What I’m expecting now from NEO? Small downwards moves some more.

Important are this $60 support zone, which is quite important, given the earlier peak levels.

After that: $45 or maybe even $40 making a giant falling wedge with bullish divergences, breakout afterwards.

First important support level is coming up around this area.

Regarding the divergences: check my other Ethereum and Bitcoin charts where I’m relying on them too.