NEO like many alts following ETH pattern formed an expanding flat, a corrective pattern, implying that this is not the reversal but we have another leg down. Broke down successfully and retested the break out by forming a correction. Expect this to reach near $12 range.
We are also bearish and since NEO is on an emerging 4H Channel Down that is seeking a test of the 13.55 support, we will be watching closely (rejection or break out). Given though the overall bearish trend on 1W it is safer to short within this channel to 8.78:
mfibbs
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Wrong.. neo fomed double bottom and retraced. We saw a bounce. Head and shoulders formed. We should see a bounce off neckline for a c wave.
kryptowavetrader
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@mfibbs, Do i need to count u the times h and s has failed LOL. Retail traders and their patterns smh