NEOS/BTC is in a sideways range. This is likely a period of accumulation after a period of bearish price action.
NEOS/BTC 4H Chart
- As we can see in the 4H chart, the outerbound of the range is roughly 0.000292750 and 0.00047190.
- I think we can start considering buying around 0.00034000.
Trade Plan with Reward to Risk:
- Entry at 0.00034000
- Exit: 0.00028800 (-15.29%)
- Target 1) 0.00045000 (+32.35%)
- Target 2) 0.00049900 (+46.76%)
- Target 3) 0.00058500 (+72.06%)
- This is a high-risk-high-reward trade plan. It can also take a few weeks.
- The accumulation can take longer than we think, but if we are right about the market gearing up for a short-term bullish correction, we have a strong reward to justify the risk and time.