There are a lot of possible breakouts that are about to occur in the crypto markets. These are a list of 3 that I think will have the best breakouts.
1 Hour chart: NEO
We saw a corrective drop occur yesterday and it looks like we might have found a bottom. I am more bullish than bearish in NEO's case as we did not see sharp impulse moves down but instead saw a choppy move down. It helps that we hit the fib retracement .382 line and looks to have rebounded off this nicely. The real signal will be if we will take out the downward trend line. If it does expect to see another massive impulse move upward like we saw on the 18th of this month.
1 Hour Chart: QTUM
Here is a chart of QTUM, another crypto in the top 20 in Marketcap. QTUM's chart looks a lot like NEO's as they all seem to correlate between each other. Like NEO, QTUM dropped and touched that .382 fib level. The first move I see will be to break out of the current downward move and reach the top of the channel it is currently trading in. Once it reaches this level WATCH OUT FOR A PULL BACK. This is very possible as we have seen this happen many times in this chart yesterday. I am more bullish because we bounced off the .382 fib level so we have that added support floor and if I had to give my opinion I would assume a breakout on this impulse move upward.
4 Hour Chart: DGD
15 Min Chart: DGD
For DGD I posted 2 charts so you can see the overall pattern. I have shared the outlook on DGD in earlier posts and it is following my projections so far. As I am writing this DGD is breaking through the first resistance line and is looking to start its impulse move upward. I am looking big picture of this move to take us to the $440 level.
When you trade always make sure you follow ALL your trades with protective stops and STICK TO YOUR PLAN. Do not hope that the markets will do something or you will SURELY lose. As always have a great day and a better one trading!