-We have a triple bottom on 50% fib retracement. -We have a bullish flag pattern. (Big pole and consolidation after the pole) -Price is breaking this consolidation (downtrend line)
Fundamentals.
Chinas "Ghost Month" that started on August is finally coming to an end (September 9). Remember that Asian cultures are very superstitious. They avoid investing in the ghost month since its believed to carry bad luck. I think investors will look to buy NEO after September 19 since Neo's price is very under valuated right now. Added to that, I can not expect even more bad news for Chinese crypto-world after all that happened this month. haha
I think the panic sell and bearish momentum its over and I can see a 60$ Price by the end of November/December.
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great insight. however, I don't think BTC is done correcting. When it goes back down to 2800 or 2500 towards the end of the month, it will drag everything down a long with it. I have reduced my neo core holdings by 20%. Going to pick some more on the way back down.
Ville1
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@pisces38, Hi pisces. I though about that too. Right now Neo its following Bitcoin movements. I decided to buy and hold NEO at 17$. I'm not sure that bitcoin will go that low. It already tasted the 0.618 fib (that happens to meet a 3000$ psychological support + previous high on 1 -Day candles) So we have got here a very strong support zone. I expect NEO to separate itself form bitcoin price after China start to implement regulations)
But as we already know, anything can happen!. By now I'm just looking at price action and fundamentals and holding at 17$.