NEO continues to look weak after hitting highs of $20 a few ago but that is all forgotten now that we are staring at a possible $17 handle again. It has constantly found resistance at the EMAs and they finally did crossover, which saw a big spike down in price a few days ago following BTCs drop. It did break the demand zone, which has now turned into resistance and most indicators are painting a bearish scene.
MACD continues to drop like a rock while histo is turning upwards slightly while RSI hasn't been able to break above resistance and is looking like it wants to rollover once more. A short scalp can be played here with a decent R:R with a stop placed above the now supply zone and FIB level.
If it goes down to $17 could it be forming a double top sending it towards the $13 area. What do you think?
CM_Trades
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@TWIMARKETCAP, it could be but again all depends on Bitcoin. If Bitcoin decides to rally it will drag the rest of the market up as well
TWIMARKETCAP
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@Crypto_Terminal_Chris, looks like NEO it is doing what I said, that double top is send ud towards that $13 area. Good luck
CM_Trades
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@TWIMARKETCAP, i don't get stuck to one side of the trade! Not sure what the good luck is for but we've hit lots of trades since then with good profits! I'm no permabear or permabulls! Also we are still around $16 so not sure what you're point is! Good luck to you!