Neo Trading IdeaHello traders,
Neo is at the bottom of a huge upward channel and now formed this bullish triangle formation what indicate us that it will continue at least for now with its upward movement. We recommend to buy above this triangle for a better profit/risk relationship.
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NEO
NEO 12H. Lack of light in the eyes and the level $13.25For more than a month now, the correction of the insane NEO growth has been going on. Uncertain buyers' breakthrough of the mark $21.56 was a catalyst for the downward wave beginning. Sellers return to the $21.56 mark motivated us to come up with an idea that worked out perfectly.
Since the idea was published, the price has fallen by 20%.
At the moment, the NEO price is moving in a local inclined channel , which looks more like a corrective movement than the emergence of a new upward trend.
Our opinion is reinforced by the trading volumes , which have decreased compared to August 2020.
Near NEO future will decide the level 18.911.
If the price can fix above $18.91, then the way will open to $20.25-21.56, as we noted in the previous idea.
If the price fails to fix above $18.91 , it will be a strong signal of buyers' weakness. In this case, the price will first go down the channel to the level $17, with a possible continuation of the fall to $13.25.
P.S. So far, BTC hasn't strongly motivated NEO buyers to skyrocket growth.
Our optimistic BTC target is $13,870. We are not sure if this potential continued BTC growth will trigger a significant change in the NEO market.
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What is NEO? The cryptocurrency for the smart-economy!!!Neo has been one of the favorite cryptocurrrency for crypto-enthusiastic. So, Neo has the distinguished cryptocurrency in the past bull run on 2017 when the maximum that NEO reach up was of $207 USD. So, I believe that this crypto have future in medum to long-term. But, what did this cryptocurrency so different for others cryptos?
But, What is NEO?
1. NEO it's an open networkfor the smart economy. The NEO ecosystem is driving with the large community of enthusiastic and developer to become this cryptocurrency for the next-generation of the internet.
2. NEO is an open-source, community driven platform that is leveraging the intrinsic avantages of blockchain technology to realize the optimized digital world of the future.
3. Another features is that NEO is investing $100 million through its ecoboost program to accelerate the realization of large-scale commercial blockchain solutions by empowering developers and proyects in the ecoystem all funding.
Use of Case:
a) Blockchain infrastructure: You can to contribute to the underlying infrastructure of the NEO Blockchain.
b) Digital Asset: You can digitize assets in a decentralized, secure and third party free fashion.
c) DEFI: You can to transform traditional financial instruments into trustless and transparent protocols
d) Game: You can to empower new game of gaming experience by integrating blockchain features.
My Personal Opinion:
NEO it's another cryptocurrency that I have in my radar together with Chainlink too. But talking about NEO, they wan't to built a strong infrastructure to develop smart contract based in the economy digital solution. The most interesting what I found out is that based in my entrepresenurship and NEO proyect that they goal is to resolve and create the smart-economy for us and resolve all problems in our life facet. I see that my proyect based in to create a digital world for the next economy revolutionary that we could to trade assets, create tokens or assets, pay using these tokens and make this token to diluted the inflation as NEO grow up, I want that this token of value assets grow up too. That could be a good solution for my proyect that I want to develop. Also, all my idea is published in my past fundamental analysis of Enjin Coin. But, what I found out on NEO is so perfect for my Dapp to create your own blockchain empire and decentralized world that we could to trade, and also, that proyect I want to build based in the DEFI proyect that it's about to trade assets in the digital world to resolve all problems in fact to create a assets kinds that people or enhusiastic could to trade, make DEFI business and create the next generation revolutionary. So, in genral, I like NEO as investment and become a NEO developer in the future.
For more resources, please visit these links:
1. NEO Website: neo.org
2 . NEO Twitter: twitter.com
NEO- pushing over or retesting the trendilineNEO made a nice push today,however, it is now facing a hard resistance.
Below we can see higher lows forming which indicates an uptrend.
If BTC stabilizes overnight we could see a push here over the resistance. If NEO breaks over it can go to th $20 levels.
However, if NEO bounces of the resistance it will retest the trend line and make a higher low.
NEO BNB LONG IDEANeo bouncing nicely from the support. Target 1 is 0.69 BNB. Expect it in comming weeks.
NEO.USDT (Y20.P4.E1).Reversal areaHi All,
Many of the Alts have created a reversal bottom and NEO seems lagging behind but doing similar formation.
Its pullback is very deep, back were it started from.
Trying to find the reversal structure is obviously a bigger risk but better returns.
I'm also aware of the BTC price action which can drop a little more as per my post, but i don't see that happening quickly.
Also note yesterday was a BTC dominance day where many ALTS dropped price, today they can start reversing as well.
Note: hidden bullish divergence.
My strategy,
Looking at the 4 hrly (2 hrs left to close) and 8 hrly chart for a bullish candle combination\setup;
Check the smaller time period to see an entry level;
Place a small order. If it gets to be correct, follow up with another order which offsets any potential losses by the profit gained by the first order;
Place a stop as per chart;
Lets see how this one goes.
Regards,
S.SAri
POTENTIAL Fractal, LINK
NEO turns around. NEOUSDAnd appears to have reached peak of Wave 3 - now looking for a bit of retrace. Still a wave 5 to go and then a bigger retrace. We are moving up, just lagging a bit fractally from some of the other coins. I am putting entries at the deep retrace levels. For the noobs, a) this is not now b) not financial advice.
Chinese version of Ethereum- Neo is ready to Pump!!!Neo is like the Chinese version of Ethereum. It’s currently plowing ahead with a massive overhaul, called Neo3, which will make Neo faster, more secure, and more efficient.The Neo team also recently launched Flamingo, a full suite of DeFi tools built on the Neo network.
Flamingo is like Yearn.Finance, Compound, Maker, Synthetix, Perpetual trading, Ren, Curve, and Uniswap all rolled into one. If you don’t know what each of those projects do, don’t worry. Just know Flamingo is built as the first full-stack DeFi services protocol.
According to Flaming Finance, the crypto community was so excited about the platform’s launch that $1.6 billion worth of assets flowed into the network by the end of September. And much of this influx was thanks to Neo’s Poly Network alliance.
The Poly Network is a new protocol alliance formed to facilitate cross-chain transactions between blockchains without needing to issue new tokens. Neo, Ethereum, Ontology, and Cosmos are part of this alliance, and there are plans to add bitcoin as well.
Flamingo’s launch is a massive endeavor in the sense that there is currently no one-stop solution built on top of Ethereum. And Flamingo will be a game-changer for NEO token holders as more assets are pulled from Ethereum to its platform.
$NEO - Break of Structure - Pullback to a new highLooks like NEO just barely broke the swing high after hitting resistance and bouncing back. Look for a retracement for a long around 16.85. This is a 4 hour chart so you might be able to pull in some good shorts if you find the right setup on a 15 min time frame. Like if you can keep finding patterns like these on the way down, why not sell too?
NEO to see a 13% leg up.NEO - Short term
We look to Buy a break
Price action has formed a bullish ascending triangle formation.
A break of yesterdays high would confirm bullish momentum.
Levels below 18.00 continue to attract buyers.
A move through bespoke resistance at 18.34 and we look for extended gains.
We look for gains to be extended today.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Our profit targets will be 20.34 and 20.98
Resistance: 18.00 / 18.35 / 19.10
Support: 17.65 / 17.40 / 17.00
Signal Centre
NEOUSD: Possible Long (11.10.2020)On D1, the price touched the lower border of the ascending channel on a logarithmic scale. The RSI has almost reached an oversold level near the 50% Fibonacci level.
On H4, the price broke through the border of the descending channel upwards, and divergence was formed between the price and the RSI. Also, the first impulse movement towards the NEO price increase is visually visible.
We recommend buying NEO to keep the position above 26.