Hello,
I updated my previous chart on NEO/BTC because I found out that things seems to be more accurate in Log Scale.
As you can see on the charts, NEO is inside an ascending channel (two black lines) and in the last days, its price keeps bouncing inside the channel and between different FIB resistances (some in colors and other in dashed black lines).
If you have followed my previous idea, you should have sold a portion of NEO between 820-850k and another portion between 1000-1100k before buying back around 800k, which should have given you a small growth of your total NEO coins. Due to unavaibility on the weekend I wasn't able to give you a sell signal around 1400k.
Now NEO/BTC is going back to the bottom of the channel in order to retest it. We also have a FIB resistance at 1130k. Two scenarios could occur :
- The FIB resistance and the bottom channel don't hold, then we should go back 1000k and maybe 850k.
- The price bounce up on the bottom of the channel, then we could go up to 1400k and then 1500k.
As you can see on the charts, NEO is inside an ascending channel (two black lines) and in the last days, its price keeps bouncing inside the channel and between different FIB resistances (some in colors and other in dashed black lines).
If you have followed my previous idea, you should have sold a portion of NEO between 820-850k and another portion between 1000-1100k before buying back around 800k, which should have given you a small growth of your total NEO coins. Due to unavaibility on the weekend I wasn't able to give you a sell signal around 1400k.
Now NEO/BTC is going back to the bottom of the channel in order to retest it. We also have a FIB resistance at 1130k. Two scenarios could occur :
- The FIB resistance and the bottom channel don't hold, then we should go back 1000k and maybe 850k.
- The price bounce up on the bottom of the channel, then we could go up to 1400k and then 1500k.
After bouncing on the bottom of the blue channel NEO seems to be strugling now at a 2.618 FIB resistance. The indicator seems to predict an uptrend but NEO have to break this resistance first.
If the fib resistance break up we will go up to test the bottom of the black channel and maybe the top of the blue channel.
If the Fib resistance hold, we may go sideways or down to test again the bottom of the blue channel.