I know I did not use the Fibonacci Speed Fan Correctly, but I just wanted to show you how oversold NEO/BTC is at this very moment.
Pros (Causes for Bullish Momentum)
1. The Squeeze Volume Momentum shows us an interesting Potential Fractal Pivot point today (June 17) Precisely 92 Bars (Days) after the last run.This could mean 1 of 3 Things:
1. An identical volume fractal, and we sky rocket within the next month, reaching an ATH (Extremely unlikely, but you never know....) at the very least showing excellent profit (anywhere from 10-50%)
2. The fractal relationship could turn into a potential midpoint, and the lowest low before reaching a new high (So the high would be in 92 days is basically what I am trying to get at... and we would not go to whatever base we hit today)
3. Like any other pattern or fractal or relationship, it could just be mere coincidence and nothing more. In fact, it could mean absolutely nothing, and we could sink down lower. However, this is not a USD chart, and NEO is an incredible coin as many of us know.... In terms of the LONG Run (5-10 Years), looking back at this, we may look back at this pivotal point with much regret if we let this opportunity slip by. Lets all not forget the climb that Ethereum had last year (Almost 5 fold BTC). In this year, of destain, doubt, regret and anger, showing within the decline of overall volume throughout the entire crypto-market, I believe that fundamentals will play an enormous part within the success on the monthly, daily, and of course, yearly success of the coin.
Secondly of course, the RSI + MFI on the bottom of the chart is immensely similar, and we can see that at this moment, the MFI as well as the RSI on the daily, are both oversold.
In summary, a lot of potential for profit in terms of BTC. I cannot say for certain that it will grow in USD anytime soon, but we will see how the market plays out. Even the announcements from the SEC couldn't turn this bear train around, although we are slowly but surely showing signs of slowing down our current trend, we may still have another leg down (healthy correction).
Good luck if you choose to enter now! I wish for the best!
Long Term: Risk (4/10) = >6 Months
I would recommend to anyone to hold NEO.
Warning: Short Term Risk (9/10)
Only get into this trade if you are an experienced trader who knows how and when to set a stop loss.
Extreme volatility and bearish momentum shown throughout the entire market, with heavy descending resistance. Just about any trade is as risky as it gets.
Pros (Causes for Bullish Momentum)
1. The Squeeze Volume Momentum shows us an interesting Potential Fractal Pivot point today (June 17) Precisely 92 Bars (Days) after the last run.This could mean 1 of 3 Things:
1. An identical volume fractal, and we sky rocket within the next month, reaching an ATH (Extremely unlikely, but you never know....) at the very least showing excellent profit (anywhere from 10-50%)
2. The fractal relationship could turn into a potential midpoint, and the lowest low before reaching a new high (So the high would be in 92 days is basically what I am trying to get at... and we would not go to whatever base we hit today)
3. Like any other pattern or fractal or relationship, it could just be mere coincidence and nothing more. In fact, it could mean absolutely nothing, and we could sink down lower. However, this is not a USD chart, and NEO is an incredible coin as many of us know.... In terms of the LONG Run (5-10 Years), looking back at this, we may look back at this pivotal point with much regret if we let this opportunity slip by. Lets all not forget the climb that Ethereum had last year (Almost 5 fold BTC). In this year, of destain, doubt, regret and anger, showing within the decline of overall volume throughout the entire crypto-market, I believe that fundamentals will play an enormous part within the success on the monthly, daily, and of course, yearly success of the coin.
Secondly of course, the RSI + MFI on the bottom of the chart is immensely similar, and we can see that at this moment, the MFI as well as the RSI on the daily, are both oversold.
In summary, a lot of potential for profit in terms of BTC. I cannot say for certain that it will grow in USD anytime soon, but we will see how the market plays out. Even the announcements from the SEC couldn't turn this bear train around, although we are slowly but surely showing signs of slowing down our current trend, we may still have another leg down (healthy correction).
Good luck if you choose to enter now! I wish for the best!
Long Term: Risk (4/10) = >6 Months
I would recommend to anyone to hold NEO.
Warning: Short Term Risk (9/10)
Only get into this trade if you are an experienced trader who knows how and when to set a stop loss.
Extreme volatility and bearish momentum shown throughout the entire market, with heavy descending resistance. Just about any trade is as risky as it gets.