Big bullish Shark:
Previously we have seen that the NEO coin formed a big bullish Shark and produced more than 300% rally.
After more than 300% rally:
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SMAs on the weekly chart.
Now on the long-term weekly chart, the priceline of NEO coin with US Dollar pair has crossed up the all simple moving averages with the time period of 25, 50, 100 and, 200.
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Up-channel:
On the weekly chart, with US Dollar pair the NEO coin is also moving in an up channel.
New Up-channel:
While moving in an up-channel on the weekly chart, the priceline has also started more bullish up-channel within the previous channel.
Ichimoku cloud turned weak:
On the weekly chart, In the Bitcoin market, the NEO coin is moving under the Ichimoku bearish cloud for a long time period. Now the bearish cloud has changed from strong to weak and it is possible that the price action of NEO will breakout this Ichimoku cloud resistance soon and start a powerful bull run.
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Conclusion:
Even though the NEO coin is much bullish in the US dollar market. But after breaking out the Ichimoku cloud resistance it can turn very strong bullish in the Bitcoin market as well.
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