Neo, like other alts, are on a run. The momentum is slowing down for some coins so we can expect a pull back short term to buy more. If we get a break out of the downtrend line, Neo can potentially be a very big winner. There are 3 targets on this setup. This particular setup might be 1-2 months long; swing trade. What are your thoughts?
Trade with care.
NEO rose about 25% yesterday. And now it broke 84-day downward trend!!
This is a long-term approach.
If the price movement follow this long-term trend, it can reach about $ 100.
So I will buy it when neo breaks the pennant pattern upward.
NEO shares (NEOs are shares and not a coin and cannot be subdivided - minimum account=1)
good:
- digital assets (registered digital identity - connection between digital and phys. assets)
- anti-quantum cryptography (quantum-secure)
- Smart Contracts programmable with many programming languages
- NEO Gas (hodling NEO creats NEO GAS = 8-9% interest)
...sounds...
Bitcoin is dancing with eliot waves. The matter is will we continue bullish eliot waves or bullish eliot waves after the latest eliot which is forming now.
Let's look at the 4h chart of NEO and try to spot possible price movements. We can see that price reach an important zone formed by the downtrend line and 31.8 resistance level. If price breaks the downtrend line, that we have a possible long opportunity. If price breaks support line ~26.7, we'll have a sell signal.
P.S. If you think this information can be...
With possible rumor based Chinese news on the horizon, we should see a spike in buyer confidence today - If we do go up I will be setting a trailing stop for sure. Buy the rumor sell the news.
I just like the craziness of these altcoin patterns.
On this NEO, we have a consolidation range between 9 and 60 !! This is something never before seen in history. Incredible these ranges.
Well, it looks like we need to see a breakout in Neo in the coming weeks as these trend lines connecting the highs and lows are converging to a head.
My bet would be a drop...
