NEO catching its breath before the next leg up
Updated
NEO has delivered outstanding performance in the past month and is finally catching up its breath before the next leg up.
The China ICO ban, the rumor on China shutting crypto currency exchanges down have certainly brought fear to the market and triggered the downtrend on NEO price.
The team at Red Pulse (the first ICO to be run on NEO: coin.red-pulse.com/ has decided to pause the ICO process until they have full control of all the legal and compliance implications. They are based in Hong Kong and have excluded Mainland China, U.S., and Singapore citizens from participating in the RPX sale.
I'm hoping all this will be sorted out by next week so we can carry on. In the meanwhile, let's wait for NEO at the bottom and buy it for cheap before it goes back to the moon
MACD, RSI and TDI are all showing a downtrend on the day chart.
I'm expecting price to bounce at the previous resistance level which should now be support (also on the chart).
Buy Zone and Take Profit levels are shown on the chart.
Also possible to short NEO until the buy zone.
I am new to this and I'm not giving financial advice.
This is for pure fun and everything I say needs to be taken with a grain of salt.
Do your own research before investing your money.
Happy Trading!
The China ICO ban, the rumor on China shutting crypto currency exchanges down have certainly brought fear to the market and triggered the downtrend on NEO price.
The team at Red Pulse (the first ICO to be run on NEO: coin.red-pulse.com/ has decided to pause the ICO process until they have full control of all the legal and compliance implications. They are based in Hong Kong and have excluded Mainland China, U.S., and Singapore citizens from participating in the RPX sale.
I'm hoping all this will be sorted out by next week so we can carry on. In the meanwhile, let's wait for NEO at the bottom and buy it for cheap before it goes back to the moon
MACD, RSI and TDI are all showing a downtrend on the day chart.
I'm expecting price to bounce at the previous resistance level which should now be support (also on the chart).
Buy Zone and Take Profit levels are shown on the chart.
Also possible to short NEO until the buy zone.
I am new to this and I'm not giving financial advice.
This is for pure fun and everything I say needs to be taken with a grain of salt.
Do your own research before investing your money.
Happy Trading!
Note
NEO never made it to the lower support line as I expected... it bounced way earlier. This shows how strong support is for this coin and the potential for future gains. Holders are holding. With the clarification over the China situation and a few ICOs coming on the platform, I expect it will continue to go up now.
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