NEOUSD analysis, back to the top or incoming crash?

NEO is close to strong resistance. If a candle closes above resistance, it will confirm a buy signal towards the top again at 100% of the fibonacci pattern. If it bounces off resistance, it will likely visit 125$. This may make it bounce to 158$ again, or break through to 106$. The ideal entry is 106$, as a bounce from that price is very likely with a high reward potential. However, one must consider that the entry point may not be reached again, since it may already bounce off 125$. Therefore, make a decision beforehand to prevent being influenced by FUD. If option 2 happens, I suggest buying with 50% of your NEO-investment-funds. If it moves up, you can use the 50% remainder to invest in other coins: don't let the FOMO get to you. If it moves down, you can cost-average it by buying with the remaining 50% at the ideal entry point.

Remember to set your stoplosses when you enter: markets can sometimes be irrational.

If I made you money, please consider buying me a beer to make my day:
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Feel free to ask me questions or to ask me to perform my analysis on a coin of your choice.

Happy trading!


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