buergernamebenutzenistillegal

NEO/USD - correction expanding -switching to neutral short-term

BITFINEX:NEOUSD   NEO / U.S. Dollar
I had to change the overall labeling, due to the very insufficient history data on that pair.
The labeling of the December upside breakout can not yet be labelled in a decent way.

Nonetheless the actual corrective patterns can be labelled and do show imho             , that the
EoD-plunge (End of December-plunge) still needs some mumbling away after the impulsive upmoves /
fuel injection of the CC-market that led to the massive and broad SoD-Rise(Start of December-Rise).

On the short term : long and short, wave riding, surfing the corrective waves, enfolding here.
No impulsive breakout on the long side expected yet, to continue the long-term uptrend,
waiting till the correction can be labelled complete.
on the middle term outlook: catch the EoD-plunge corresponding C wave down after evaluating
the price-action at the marked market supply zone in red
the position trading site of the Cryptos: hybernation mode for now in NEO/USD .
switch to neutral to either await the C wave down for a short or grab the chance
to long this pair ,at the end of the C Wave to switch into the expected second up-leg , reviving the SoD-Rise.

overall outlook long-term: positive/long


I would suggest this labelled triangeling corrective waves, needing a second leg on the downside in an C
wave corresponding to the EoD-plunge A before being ready to start another major upleg somewhere in beg./mid. January.
Comment:

yes, looks alright, going steeper north now, gaining momentum...

Do not forget to take the SL on secondary lows with you...
Trade active: lokks promising...red is the zone to TP

Trade active: either reacting north here ore SL will be hit at 60.80 below the last highs...

, looks we are not heading for an intime up...TP-Zone not reached...

all Cryptos suffering from UP-weakness, though NEO along- DASH is among the strongest...
Trade closed: target reached: That was a winning baby...the TP zone could be reached...

See You next time NEO...
hand me the number of that telephone cabin, so I may ask you to go kissing the sky again for us...Thank You...


He needs to bounce here on the 0-b' line , if not...fade out of the trade......the new formed b could be in for another 3 wave down , then....with BTC performing so weak, the Crypto-Verse needs to be treated cautiosely on the upside right now...
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