INTERPRETATION
NEOBTC
has seen a decline in price in spite of positive news & predicted bullish movement (see related ideas). NEO could not resist falling in the early-2018 bearish sentiment of the overall crypto alt market. Despite the fall in price and market setback, the project has continued to move forward. Whether the optimism and development of the project will be able to pull back investor confidence in the near future is to be determined. However, technical analysis shows that the price has hit a crucial crossroads that will likely result in either a significant recovery in price or the next substantial drop.
BUYING SIGNALS
- Double/Triple Bottom pontential (crucial Fib@0.618 support currently being tested/challenged w/principal downtrend & seller volume drop)
- T&K & Price-T&K oscillation after prolonged period of Bearish sentiment pattern
CAUTIONS & CONFIRMATIONS
- upcoming Red Cloud indicating continued selling pressure
POSITIONS
Additional position was added (averaged down) due to confidence in the project. Entry at this time should be considered premature. Confirmation of sentiment & momentum is advised to reduce risk.
NEOBTC
has seen a decline in price in spite of positive news & predicted bullish movement (see related ideas). NEO could not resist falling in the early-2018 bearish sentiment of the overall crypto alt market. Despite the fall in price and market setback, the project has continued to move forward. Whether the optimism and development of the project will be able to pull back investor confidence in the near future is to be determined. However, technical analysis shows that the price has hit a crucial crossroads that will likely result in either a significant recovery in price or the next substantial drop. BUYING SIGNALS
- Double/Triple Bottom pontential (crucial Fib@0.618 support currently being tested/challenged w/principal downtrend & seller volume drop)
- T&K & Price-T&K oscillation after prolonged period of Bearish sentiment pattern
CAUTIONS & CONFIRMATIONS
- upcoming Red Cloud indicating continued selling pressure
POSITIONS
Additional position was added (averaged down) due to confidence in the project. Entry at this time should be considered premature. Confirmation of sentiment & momentum is advised to reduce risk.
