With todays tiny new low NEO has confirmed with 5th wave of the 3rd corective leg. Wether you count it 3-3-5 or 5-3-5, important is the finish with 5 waves right at this point after retracing 88.6% in price from the last top!
This is NEO's launchpad in this area. Stay tuned for a wild n heavy take off!
Hold my beer pls
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No financial advice, do your own research, don't be stupid
@MartinSchnellmann, as long as the 2020 low holds, this is a possible 1-2 formation. But either way: if it impulses from this area or starts a corrective move up, its gonna be a huge movement to at least $100.
NastyBeer
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painful no doubt but hasnt changed the structure at all, finishing a big a** correction with a ending 5-wave formation
dzoni893
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@NastyBeer well its possible, if you look closely it did almost exactly the same falling wedge like in 2018. If corrections repeat maybe the next wave 3 can repeat as well (bitcoin move in 2017). But also sub dollar NEO is still on the table for me
NastyBeer
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@dzoni893, although I understand the wedges you suggest, I do not think it was a real one in 2018 (maybe for the whole move but then it failed) and neither now. Gives me a hard time drawing it well looking. Maybe because the 1 wasnt as deep to hit the lower TL. However the difference we got is 2018 was a 3-3-3 correction wxy whatever and now we got a clear 5-3-5 or 3-3-5. We already down 94%, 2018 it was 97%. Can we go 99% down? Of course, but less likely. Depending on how the form a possible bottom here, I rather feel its in than we head way further down
dzoni893
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Yup it launched
testertje777
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Although now is a good time to DCA. I don't think anything is gonna launch in this bearish environment.