Systematic79

Decision time for NEO

BITTREX:NEOBTC   Neo / Bitcoin
The one thing I love about NEO, is that it tends to respect, TA. Its a great project with all its benefits, gas and upcoming airdrops - one this week! (Name Service - airdrop - snapshot June 27) Price has not been this low since Jan 5th 2018! It's had a strong downtrend since the start of May. Broke through a support level on the 10th of June and has now been resting/touching on another level of support for the last 2 days and also today.

If it breaks this level of support, the next support is about 10-12% lower.

If it tests this current level and bounces off I would expect a retracement up to either 23.6% or 38.2% levels on the fib retracement with a 19% or 30% gain respectively. A push like this would break it out of its current downtrend


RSI is very low in the 20s indication oversold and the MACD lines are close to crossing over to blue, with the coming airdrop maybe we will see a push but for now keep an eye on it! Id like to see at least a temp break in the downtrend as its been going on for a while now.

This is my first post so hopefully this helps someone!
Comment: Support was broken on the daily which saw us drop 6.68% about mid way until next level of support. A risky entry unless you have a tight stoploss.

Currently pushing back up but has got a way to go with a little extra resistance to get us back where we were.

Gut feeling is that we will have a push back up to support and up to estabilished downtrend, if BTC behaves itself. Snapshot of the NEO wallets is happening in a couple days for the airdrop, so that will hopefully get the extra volume we need.

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