Long
NEO / USD in the buy zone
A few months have passed since NEO rebranding and is now easier to get a broader picture of the price. It seems difficult to make NEO/BTC predictions at this time, but i think NEO/USD can provide a very good trade over the next 4 weeks or so. The indicators are starting to turn upwards and the Elliot Waves are waiting for wave no. 5, with a predicted price of 1.618 fib level, based on previous ATH and ATL.
Trade active
NEO broke out and is heading towards the major wave 5 target. Getting there won't be smooth, but following smaller wave cycles, which i think will look like this: Note
Cycle completed, fully corrected. Point 5 was a bit lower though, but overall great trade.Another cycle expected after some consolidation in the demand zone (marked blue).
Trade closed: target reached
Target Reached.
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Related publications
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.