Hey Binance family! 👋
We're taking a closer look at NEIRO, and it seems like we might be in for a bearish ride.
What's Going On?
We're analyzing NEIRO on a 12-hour timeframe.
It looks like NEIRO has completed a diametric pattern, which is like a fancy technical term for a price movement that looks like a mirror image. This pattern lasted for a whopping 83 days!
We think NEIRO has now entered wave B, which is also expected to last for at least 83 days.
What Does This Mean?
This suggests a bearish outlook for NEIRO.
Where to Sell/Short?
We've identified a flip zone on the chart. This is a good area to consider for sell or short positions.
What's the Support Level?
The primary support level has been highlighted on the chart. The price could potentially drop to this level.
But Wait, There's More!
To make sure our analysis is valid, we need to set an invalidation level. If the daily candle closes above this level (0.00185145), our analysis is no longer valid. ❌
Important Reminders:
* Risk Management is Key: Always remember to set stop-loss orders and manage your capital wisely. 💰
* Be Patient: Remember, we're on a 12-hour timeframe, so don't expect immediate results.
Questions?
Feel free to leave a comment below if you have any questions. We're here to help!
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.