we are seeing a slight correction on the last run. I think the last run could take us to USD 40 first before we see a larger correction. I have buy orders pending at USD 34.70. If those hit, I will take the ride up to USD 40 and take some profits. I will then reset buy orders at the same level for the wave up to USD 42.
I have set buy orders at USD 34.60 with stop-loss at USD 33.80.
gmtfooh
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True, if BTC doesn't hold, all else will follow. Hopefully there will still be time for this trade to follow through...
cryptomanna
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@gmtfooh, I'm thinking the same thing. But the trade is very contingent on BTC. My interpretation is BTC runs to ~$4600 which will let NEO get to ~41. What happens next I'm not sure, but it's looking like BTC could correct and take NEO with it.
gmtfooh
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@cryptomanna, I agree. I am thinking that BTC will correct to $4300 - 4260 which will take Neo to my buy order of 34.60. After that we will see a run to $4600 - 4700 which will take Neo to $40 - 42. After that, it is anybody's guess. I will watch the markets closely at that point and perhaps sell some of my Neo core position. Not much though (1/3) as I see Neo becoming a $100 coin within 6 months and am overall very bullish on Neo.
cryptomanna
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@gmtfooh, Did you get your buy order or were you stopped out? Appears to be strong support at $32 and currently stabilizing.
gmtfooh
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@cryptomanna, filled buy at 34.60, stopped at 33.80 and just rebought 31.70
cryptomanna
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@gmtfooh, Nice! Things are going to plan still. Let's hope BTC can get some momentum going over the next day or so.
gmtfooh
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@cryptomanna, BTC really needs to keep its house in order for this trade to play out. I am just hoping that the break of the BTC falling wedge doesn't happen until a few days. I am watching BTC closely. $4400 is an important level because an H&S may be forming at that level.
cryptomanna
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@gmtfooh, I completely agree. Your analysis is spot on. I'm seeing/watching the same thing.
I have set buy orders at USD 34.60 with stop-loss at USD 33.80.