This morning, the whole market cap dropped by 30-40 billion. Needless to say that pretty much all coins (except for random REP) has gone down 10%+. While the reason is unknown to me, this is the first time I'm excited about buying alts since I see 'discounts'.
HOWEVER, even though I am partially a long term investor, I would still like to get the best prices. I don't mind catching falling knives if what I'm catching is going into a long term portfolio. That being said, lets turn to the daily chart of NEO.
We see the 12 EMA cross below the 26 EMA (bearish). It has broken my first green support line of .007834. I am definitely watching NEO closely over the next 48 hours.
From a long term investor POV, I am looking to add onto NEO at/near critical support levels, such as .007 big even, .00674, and .006082.
These markets are wild, even the best Chartists cannot predict dumps and pumps of these magnitudes. However, we can react accordingly. I love buying/entering positions when we have a sea of red and everything is dropping by 10-20%
Good luck and HODL STRONG!
HOWEVER, even though I am partially a long term investor, I would still like to get the best prices. I don't mind catching falling knives if what I'm catching is going into a long term portfolio. That being said, lets turn to the daily chart of NEO.
We see the 12 EMA cross below the 26 EMA (bearish). It has broken my first green support line of .007834. I am definitely watching NEO closely over the next 48 hours.
From a long term investor POV, I am looking to add onto NEO at/near critical support levels, such as .007 big even, .00674, and .006082.
These markets are wild, even the best Chartists cannot predict dumps and pumps of these magnitudes. However, we can react accordingly. I love buying/entering positions when we have a sea of red and everything is dropping by 10-20%
Good luck and HODL STRONG!