Looks like ETH could have possibly found it's bottom range here. Increasing volume and huge drive down indicated capitulation (or near).
The flip side of this is that if we break fully below the 0.88 line we have a huuggee head and shoulders pattern with a full retracement down around $6. If that were to happen.. it would be interesting.
Just my rough guess of what will happen for the remainder of 2018 and most of 2019.
That pink trend line has been going from September 2015. Meeting that at the grand fib #5 of this whole move. AND the bottom of this falling wedge.
Seems like a great place for a true bottom to me!
Guessing here. Don't trade large amounts on this projection. Looks like we're in a sub-wave 2 of a superset wave 3.
If this does pan out I would remember Rule Of Acquisition #44: "Never confuse wisdom with luck."
There are a few different ways you can draw these Elliot waves, on the 12 hour they appear to form this about-to-be-completed 5 wave structure. Wave 4 trading sideways per definition.
You can see the bullish pennant forming but in this case I think a breakdown of it to the 1.272 fib line will actually signal a start of the wave 5 run.
6/12 hour RSI are on the...
NEO has textbook wave 4 going on from what I can see. A frustrating slow meandering slide that is mostly moving sideways. 12 hour RSI has peak and is headed down. Might not retrace as low as I have indicated however the 1.272 fib line seems like a perfect stop.
I really love the fundamentals on this coin, wave 5 is going to be huge.