A few months have passed since NEO rebranding and is now easier to get a broader picture of the price. It seems difficult to make NEO/BTC predictions at this time, but i think NEO/USD can provide a very good trade over the next 4 weeks or so. The indicators are starting to turn upwards and the Elliot Waves are waiting for wave no. 5, with a predicted price of 1.618 fib level, based on previous ATH and ATL.
Trade active
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NEO broke out and is heading towards the major wave 5 target. Getting there won't be smooth, but following smaller wave cycles, which i think will look like this:
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Cycle completed, fully corrected. Point 5 was a bit lower though, but overall great trade.
Another cycle expected after some consolidation in the demand zone (marked blue).
@agus_pbo, I get your point, but i don't think we should be looking at charts with pin point precision. It's just a rough approximation. In my eyes, the waves count are still valid. I guess only time will tell if I was right.
agus_pbo
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@adi0149, Where you count wave 3, i count a wave 5 (Wave 1 Higher degree this make the count valid), currently we are in a ABC correction (wave 2 higher degree) get ready for a big ass wave 3. In my projection being conservative Wave 5 ends around 100-110 USD.
adi0149
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@agus_pbo, I guess it's a matter of perspective. You should see me counting waves for BTC:
It's a doomsday chart
agus_pbo
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@adi0149, Agree, i see a deep correction in BTC as well ending around 2,500 - 3,000 USD
adi0149
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@adi0149, This chart painted great so far. I find it funny that many people blame price actions on B2X cancellation or other fundamentals, but i think the TA speaks for itself.