Hello Binance family! 👋
We're taking a closer look at NEIRO, and it looks like we may be on a bearish ride.
What is happening?
We analyze NEIRO on a 12-hour time frame.
NEIRO appears to have completed a symmetrical pattern, a complex technical term for a price action that looks like a mirror image. This pattern lasted an astonishing 83 days!
We believe that NEIRO has now entered wave B, which is also expected to last for at least 83 days.
What does this mean?
This indicates a bearish outlook on NEIRO.
Where to sell/short sell?
We have identified a reversal zone on the chart. This is a good area to consider short or sell positions.
What is the support level?
The key support level is highlighted in the chart. The price may fall to this level.
But wait, there's more!
To make sure our analysis is correct, we need to define 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 If the daily candle closes above this level (0.00185145), our analysis is no longer valid.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 are on a 12 hour time frame, so don't expect instant results.
Questions?
Feel free to leave a comment below if you have any questions. We're here to help!
Warning: This is not financial advice. Please do your own research before making any investment decisions.
