Looks like we might have a Head & Shoulders pattern forming which is generally a reversal from bullish to bearish. If we are unable to break the resistance at ~$34 I would expect a strong downward trend to at least ~$26.
If BTC is able to break above $4450 then I believe we'll see the NEO trend follow through with Wave 5 and hit the ~$41 target mentioned in . I'll be looking for NEO to break above $34.25 to consider entering for the $41 target. However, if the Head & Shoulder completes I'll be reevaluating reentry at ~$26.
** Comments and critiques always welcome especially conflicting analysis ideas. ** @CAG_CryptoTA
Your elliot wave theory is not accurate. Wave 4 cannot go below wave 1.
pyontrader
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i think you may have the wrong definition of neckline for H&S
caguillen214
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@gved252, Good call you're totally right. I had made that line as the resistance line to break through but the neckline is actually at the base of the two dips at $28.5. Thank you!