【$NEO Signal】Dual Order Script: 1H Triangle Convergence End, Awaiting Breakout Direction

$NEO The 1H timeframe is at the very end of an extremely converged triangle pattern, with price oscillating narrowly between $2.60 and $2.67. The 4H timeframe remains in a weak rebound within a downtrend channel, but the 1H RSI (40.23) has rebounded from oversold territory, and open interest (OI) remains stable with no signs of panic outflows. The current price of $2.621 is exactly below the 1H EMA20 ($2.6417), and a bullish-bearish battle is imminent.

🎯 Direction: Wait and see (Dual orders)

⚡ Breakout Long Entry: Price > $2.645 ( Reason: Successfully stabilizing above the 1H EMA20 and breaking through the upper boundary of the 1-hour triangle, confirming short-term bullish momentum )

⚡ Pullback Long Entry: Price ≤ $2.595 ( Reason: Testing the previous low support area on the 4-hour chart and the lower boundary of the triangle pattern, playing for a rebound )

🛑 Long Stop Loss: $2.570 ( Reason: Falling below the recent dense trading zone’s lower boundary and ATR (0.0436) lower band )

🚀 Target 1: $2.690 ( Reason: Resistance at the previous high on the 4H timeframe )

🚀 Target 2: $2.750 ( Reason: 1.618 Fibonacci extension level and EMA20 resistance on the daily chart )

🛡️ Trading Management:

- Position Size Suggestion: Light ( Reason: The direction is unclear, waiting for breakout confirmation, high-risk play )

- Execution Strategy: If any order is triggered and the price quickly reverses to stop out, abandon the trade. After reaching Target 1, reduce position by 50% and move stop loss to entry price. Remaining position targets Target 2.

Depth Logic: The order book shows sell orders accumulating in the $2.63-$2.64 range (depth imbalance -2.21%), creating short-term resistance. However, buy orders below $2.60-$2.61 are also substantial, forming a standoff. Negative funding rate (-0.0067%) suggests bears are in control but paying fees; if the price does not fall, a short squeeze may occur. The key is whether the 1H volume breakout above $2.645 or a pullback to $2.595 without breaking will both provide clear short-term trading opportunities.

View real-time quotes 👇 $NEO

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