Neo started its ralli and now is officially on its 5th elliot wave.
1) Elliot 3rd wave just stopped at Fibo extension 1.0 2) Next ralli broke the resistance where 3rd ralli finished (@0.008735) then found support 3) now it goes to the last of its rally (short-term) at @0.009540
lets jump to the train.
Trade closed: stop reached
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I got out of the trade at 0.0087 (black line). The price of altcoins are highly dependent of bitcoin movement. We see it at this trade.
If you did not exit your positions do not forget, neo is a strong hold and has a huge potential with upcoming projects. One more thing, since neo has usd pair in exchanges if we see bitcoin go up, neo will follow (to overcome high margins).
Stay tuned for the next trade. Don't forget to follow if you find a joy in my trades :)
In an extremely leveraged market, the fourth wave is allowed to enter the wave one territory with only one wick. Where the third wave finishes could be wave one finishing. What do you think?
kaansel
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@Yuri.fabris, I totally agree with you, actually having wave 4 lower than wave 1 finishing is not the best bullish scenario.
LunoQuinn
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should be 10k sats isnt it? 1.618? as 3rd wave isnt extended
kaansel
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@EdieOoi, actuall it could go to 10k sats however, seeing 3rd wave not so strong makes us get worried for the power of the 5th.