NeoGas | Is It A Bear Or A Bull? 50/50

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Let’s take a look at the NeoGas ( GASBTC ) chart.

Here we have strong bullish action happening now but things can easily change… Let’s take a closer look.

GASBTC is now in an uptrend and completing a strong retrace.

After the peak on 16-Feb., prices dropped below EMA300 until they hit 0.0001681 or EMA50. As soon as EMA50 was hit, a strong bounce started to take place. (EMA50 also coincides with the 0.618 Fib. retracement support for the last bullish wave, adding additional value/strength to this price level).

MA200 has already been conquered ( bullish )…
On this setup, prices can easily continue growing and multiple signals are now pointing to just that, additional growth.

EMA300 at 0.0001940 is our main indicator right now…

  • Above this level, GASBTC can easily continue growing.
  • Below this level it can continue to retrace.

The orange trendline can also be used/counted for support.

This is not financial advice.
Remember to always have a trading plan/strategy if you decide to trade.

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Namaste.