#NEOBTC - close to the demand zone, upward rally possible?
After the end of the C-wave rise cycle at the level of 0.015, the NEOBTC is in the upward trend corrective cycle, which has now taken the shape of a complex correction WXYXZ.
The price is approaching the 50% Fibo level of the previous swing up, which is right in the middle of the demand zone between 0.0076 - 0.0090.
If the correction cycle is over, then in this zone there should be at least a momentary reflection towards local resistance at 0.0094 and 0.01030.
It is possible that the reflection may be stronger and reach even 0.01111 or a little higher, straight into the pink zone of supply.
The price is approaching the 50% Fibo level of the previous swing up, which is right in the middle of the demand zone between 0.0076 - 0.0090.
If the correction cycle is over, then in this zone there should be at least a momentary reflection towards local resistance at 0.0094 and 0.01030.
It is possible that the reflection may be stronger and reach even 0.01111 or a little higher, straight into the pink zone of supply.
