A) If the resistance area between .013000 and .013280 is broken (small blue highlighted triangle),
we will see an almost certain climb to the previous resistance (yellow-dotted-line) of .014288.
B) If this resistance area is NOT broken, we will see a retracement towards
the previous intermediary support of .012568 (dotted-purple-line)
which perfectly coincides with a 50% fib retracement of the rally that began
on February 5th. This will amrk the beggining of a new set of possibilites that include
the continuation within the current trend (dashed-blue triangle channel) or a breakout
if green-resistance is tested and broken. (What will determine this can be explained in the next paragraph)
C) Unless we begin seeing higher-lows and/or higher-highs
within the next 72 hours, it is LIKELY that NEO will continue on a
downtrend until the apex of the (blue-dash) triangle formation on or
around March 5th-6th. The signal will be very clear. If the channel is broken, that will
mark the beginning of a climb towards the historic high. However if the current support line (red) is broken
then the previous support (cyan) will be tested.
About NEO
NEO is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts. The project is based in China and was originally launched in 2014 as AntShares. NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and can support up to 10,000 transactions per second. NEO tokens can be staked to produce GAS tokens which are used as the fuel of the platform, to pay for computation or deployment of smart contracts within the NEO network. The project was founded by Da Hongfei.
Whitepaper: github.com/neo-proje...aster/en-us/index.md
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
we will see an almost certain climb to the previous resistance (yellow-dotted-line) of .014288.
B) If this resistance area is NOT broken, we will see a retracement towards
the previous intermediary support of .012568 (dotted-purple-line)
which perfectly coincides with a 50% fib retracement of the rally that began
on February 5th. This will amrk the beggining of a new set of possibilites that include
the continuation within the current trend (dashed-blue triangle channel) or a breakout
if green-resistance is tested and broken. (What will determine this can be explained in the next paragraph)
C) Unless we begin seeing higher-lows and/or higher-highs
within the next 72 hours, it is LIKELY that NEO will continue on a
downtrend until the apex of the (blue-dash) triangle formation on or
around March 5th-6th. The signal will be very clear. If the channel is broken, that will
mark the beginning of a climb towards the historic high. However if the current support line (red) is broken
then the previous support (cyan) will be tested.
About NEO
NEO is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts. The project is based in China and was originally launched in 2014 as AntShares. NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and can support up to 10,000 transactions per second. NEO tokens can be staked to produce GAS tokens which are used as the fuel of the platform, to pay for computation or deployment of smart contracts within the NEO network. The project was founded by Da Hongfei.
Whitepaper: github.com/neo-proje...aster/en-us/index.md
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***