NEO is still within the descending wedge (we've been tracking this closely for days now through the Alerts Group). Last chance for the bulls to reverse this here by breaking out ASAP and forming the blue Inverted H&S to confirm a bull reversal to the trend.
If the bull scenario does fail to materialize, expect a wash down back to support at 0.003-0.0025 area
Still waiting for a clear direction.
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If the bull scenario does fail to materialize, expect a wash down back to support at 0.003-0.0025 area
Still waiting for a clear direction.
If your new or intermediate to crypto or trading all together, you would benefit by subscribing to my Bitcoin/Cryptocurrencies Live Trading Alerts or my unique 1-on-1 Cryptocurrencies/Bitcoin Mentorship and Coaching courses on my TA methods -- PM me directly for more information or check out my profile for my social media links and the website for information about our services.
Trade active
Addendum:The main chart is missing the neckline used as a stop loss.
Note
Following the ICO ban by the Chinese Government, NEO finally gave in and broke down with most of the Altcoins, Tokens, Ethereum, QTUM and EOS:Note
Apologies for not updating this chart. Based on the latest news that NEO council members will have 30% of NEO available for spending (selling or holding), were giving a higher probability to the bearish H&S to play out:
Note
I was informed that the 30% NEO available to the council could not be sent and sold on the exchanges per the white paper. So please disregard my claim earlier that the bear scenario has higher probability. I believe bulls got this and we will revisit 0.01
Note
nevermind, stoploss reached after the bottom bull neckline broke. Bearish H&S in play. Seems lots of fear of Bitcoin Bear Market at the moment pushing lots of traders to take profit asap on tokens, and alts.Note
Neo what will it be?Note
Bearish H&S played out beautifully, we took profit at 0.007 rebought at support at 0.0048
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Join my Crypto trading signals and community:
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.