regalia
Long

NEO Boom or Bust? Great Long term coin

BITTREX:NEOBTC   Neo / Bitcoin
Hi Trading View Family :)

This is for NEO's SHORT TERM price action.

I am a huge believer in the coin and was engaged in a trade from $65 with a sell out of 300% ROI             . This is still a great long-term coin and I can envision a $500 NEO for 2018. So formulate a strategy if you have not yet entered the NEO market.

WE ARE ENTERING THE TIPPING POINT. NEO has been forming a HUGE multi month cup and handle chart and has recently completed the right side of the cup + handle. You can observe my previous NEO chart here:


If NEO decides to break out we can expect price actions to reach T1 levels. However, this is a critical moment for NEO. A failure to breakout will stop NEO's positive price action and a double top would formulate. IF this happens we can see the price fall between the first two support levels. Taking into consideration how every other coin has moved in this market we will see a decline over the next 2-3 weeks if a strong support level fails to appear we can expect a down towards the reset point.

Remember, we have to highlight that a normal 45 degree growth pattern is required to sustain long term growth/price action. This can start either on the blue 45 degree growth angle line or somewhere along the golden line.

Right now it is still in the ATH             stage and a risk of downward price action is still in play. If you are looking to enter in a LONG (6months- multi year) investment position we can set purchase orders at the reset point or support level 3.

On a brighter note: If NEO decides to break out we have our targets set and a journey to NEO's new ATH             will arise! NEO's timing on the market has been at a small offset and has moved far later than the rest of the Alt's and Big 3 coins. That being said, maybe this will be NEO's parabolic rise that we have seen with all other coins in the past two months.

I highly advise people to continue to take profits and sit into fiat. Crypto has been a great driver for wealth generation and force multiplication. However, maintaining all of your funds in crypto is a detriment to your profits earned. Cash is always king. We are still about 2-3 years out from massive implementation and adoption for daily use of Crypto.

I will continue to maintain and update this idea! Please like and comment for your support :) It helps engage in positive discussions and learning opportunities. If I can get 30 likes, I will do a TA of your choosing.

Good lucky and happy hunting!

Reg
Comment: Breakout looks to have ended and a double top is forming. I think NEO has a chance to drop back down to support levels. Keeps an eye out team :)
Comment: NEO looks to be coming down. One major reason can be BTC down trend. You can inspect it here at my new BTC chart.

Comment: Price action is hitting 100% accuracy :) It failed to break out. Its hitting S1 and we can expect S2 to be hit in the coming days as BTC continues its downtrend.

This is all related to Tether and Bitfinex. I would stay out of both.
Comment: NEO Is looking to push south towards SL 2. If we are looking to set long term positions. (NOT DAY TRADES). I recommend setting purchase orders between SL3 and the reset point.
Comment: BUY NEO NOW RSI SITTING ON THE BOTTOM. BUY:1000 SATOSHI

SELL AT 1200-1300 SATOSHI.
What would be a good entry point for short term? Say until summer? Thanks again for your TA, i apprieciate it brother.
+1 Reply
@PB604, Set buy orders at Support like 2,3 & bottom out point. space out your buys. 10% at the top fatter % of your coins at the bottom.
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Great write up as always. When you reach your 30 likes can you have a look at enigma? Thanks!
+1 Reply
regalia hackthebull
@hackthebull, sure :) thanks buddy for the kind words and response.
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Broke out and enjoying this big cup (and handle) of tea.
+1 Reply
@Hisoka, yay! it did break out :) We will see if it can continue to go north.
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Looks like its broken?
+1 Reply
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