$NEOBTC - Alts are finally rising. Is NEO following?

NEO has finally bounced off the bottom and indicators favour a bullish momentum developing.

1. PPO Bounced once again on the bullish trendline that intially showed the bullish divergence
2. Ichimoku cloud has crossed bullish and price has entered the kumo. A cross to the other edge is likely and it will signify important bullish cross on longer timeframes.
3. A descending wedge has formed with bullish bias.
4. RSI and CCI still indicate a bullish momentum
5. MACD is neutral

Bullish scenario

A bullish break of the rising wedge will help to push the price to the other side of the kumo starting a long awaited bull run for NEO.

Initial target is at +12% and long term targets as per my previous analysis once we break the big support line (now resistance) depicted at the top of the chart.

Bearish scenario

A bearish break of the wedge could take us back to the baseline where we started this bounce.

Trade safe.