I think there's a good possibility that NEO retraces about 35% in the next 5 days or so, which would offer very strong support, followed by a new ATH.
It seems to me there's a huge profit potential for small risk.
Trade closed: stop reached
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It seems there was strong support at around 800k and our plan didn't work
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This move took longer than i expected, but it eventually ended up to my retracement target. Let's see if it bounces back to no 3
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NEO is consolidating nicely on the estimated support line. Given the BTC market, this would be a nice time to accumulate NEO.
I believe the BTC retracement is almost over, end with it, the time to accumulate alts. When BTC starts back up (probably in a week or so) alts will start booming and NEO will probably be leading the way.
wow thats a very macro perspective. very interesting.
mule84
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what would be a good entry point to buy in?
adi0149
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@mule84, From my understanding there are several possibilities:
1. I am totally wrong and bounces back so entry would be around 950-960k
2. I am partially right/wrong and bounces up from a mild resistance at 630k
3. i am right and bounces back from 550k
4. keeps falling below 550k
So, if it bounces back from 1-3, i think those are good entries. If it's case 4, then no entry yet.
mule84
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@adi0149, many thanks I will keep an eye on this one
jacksonng90
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same idea, i setup my next target to $60
adi0149
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@jacksonng90, From my understanding there are several possibilities:
1. I am totally wrong and bounces back so entry would be around 950-960k
2. I am partially right/wrong and bounces up from a mild resistance at 630k
3. i am right and bounces back from 550k
4. keeps falling below 550k
So, if it bounces back from 1-3, i think those are good entries. If it's case 4, then no entry yet.