similar fractal pattern identified to the one bitcoin produced in the 2013-17 cycle!
If history rhymes, then the previous targets I posted are way lower than what we are going to see in the future
Idea inspired by trader: USCG_Vet
I hope you found it interesting:)
After four years of stable MainNet operation, Neo is undergoing its biggest evolution as it migrates to N3 - The most powerful and feature rich version of the Neo blockchain to date.
Since BTC starts to pump again, NEO will explode shortly.
So what do you think about it?
FIRST, I'll explain my prediction, Then I'll explain how Elliot Wave Analysis works (If you don't know Elliot Waves, read the second part first).
Elliot 5 impulse wave. I didn't want to make a mess on the chart but Corrective wave 2 did have an ABC correction, and now Wave 4 also did.
Then we had a wedge and a breakout. MACD divergence to confirm the trend....
Here is a monthly chart of NEO/USD revealing two BULLISH pattern formation in confluence (Ascending Triangle & Cup and Handle) which can provide high probability trading/investing opportunity.
The last time it was shared (on a Weekly-Timeframe) the price was around $24 and it rocketed from there to $141 and then eventually the big fall was witnessed as BTC...
Simple idea. Note that I didn't keep the timing of the market in mind. This can develop over a longer time frame.
A wick below the uptrend to the lower 20s is still possible in order to provide liquidity. As long as it's a wick and the daily closes above the uptrend, this idea stays valid.
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Have a nice day.
(NEOUSD 1W Chart)
If the price holds above the 23.66260578 point, it is expected that the uptrend will continue.
In particular, if the price is maintained...