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dolce-and-banana
Jan 8, 2018 5:32 PM

Short-term NEOBTC Long

BITFINEX:NEOBTC30
NEO / BitcoinBitfinex

Description

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Bitfinex, 30 min candles

1. Sharp move: 34% drop followed by an 18% rise in just a few hours

2. Flagpole: continuous 53 point height

3. Flag: sloping against the previous trend

4. Duration: crypto is quite different from regular markets, so the trend is expected to continue for the next 11 hours [instead of 1 to 4 weeks]

5. Break: already broke the 0.00640 resistance and testing the new 0.00681 resistance

6. Volume: previous breakouts were formed at similar levels of volume

7. Targets: enter after we confirm the 0.00681 BTC level is broken and exit at the top of the next pole at 0.00744 - aiming for 10% quick profit

Stop loss: 0.00640 BTC
Entry: 0.00685 BTC
Take-profit: • target 1: 0.00700 BTC - expected end of the current flag, conservative
• target 2: 0.00744 BTC

Disclaimer: not an investment advice, never invest more than you can lose and always do your own TA!

Trade closed: target reached

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Trend AnalysisChart PatternsNEOBTCNEOBTC
Comments
quantum.vapour
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I tested the growth of neo and it's looks organic with all the partnership announcements. But I noticed a strange buy and sell wall pushing the edge price up slowly ever hour, it's a gantry. I feel Its being mm pumped slowly by a mid size group with a few thousand btc. Look at 09.10am this morning. The dip 6 btc dip I created made panic sell off and buy back happened. That's a cluster of pumpers panicking, believing one of their number was dumping. A massive buy order was placed with 12btc to compensate. The real question is what is the target drop zone?
quantum.vapour
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@Quantum.vapour, my time stamp should be 11.00 am Greenwich mean time.
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