$NEIRO TECHNICAL ANALYSIS ๐จ
NEIRO/USDT on the 1-hour timeframe shows possible retracement ahead depending on fundamentals.
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Key Observations:
1. Market Structure Shift
The CHoCH marks the initial shift from a downtrend to an uptrend.
Subsequent BOS confirms bullish momentum.
2. Fair Value Gaps (FVG) & Order Block (OB)
Multiple FVGs suggest possible areas for price to retrace and fill before continuation.
The Valid OB at a lower level (around 0.00029792) could act as a strong demand zone.
3. Projected Price Movement
The forecast suggests short-term consolidation, then a retracement to fill the FVG or revisit the OB.
A potential bounce from the OB could trigger another bullish leg targeting 0.00036856 and beyond.
Trading Strategy:
Bullish Scenario: If price fills the FVG and shows bullish reaction, it could confirm continuation.
Bearish Scenario: If price fails to hold the OB, deeper retracement might follow.
Entry Zones: Consider entries around the OB and FVG levels.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves high risk, and past performance does not guarantee future results. Always conduct your own research (DYOR) and consult a financial professional before making investment decisions. You are solely responsible for any trading actions you take.
