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Neosud

NEOUSD 4H UPDATE - 24/03/2018Following previous chart dated 09/03/2018 which was telling 2 stories, one of them true today (of course ;-)). So, 63.62 failed to hold and as mentioned in comments, that went bad for NEO. Therefore, count was not valid anymore, previous trade from 80ish was stopped out at 78.00 and that is fine. Now, we can see clearly that 28/02/2018 high was a bull trap or false breakout, for me it is a FLAT from 141.16 high and it sent all the way down, but for that I need a 5 waves down from 28/02/2018 high (146.12), therefore RSI divergence that I do not have yet: so I expect a new low, OR if we go higher from current level (no RSI divergence therefore only 3 down from 146.12), I do not label the FLAT but a truncated cycle from 06/02/2018 and a classic double correction (dotted line in price and RSI). So, do you buy now or below 49.04?
BITFINEX:NEOUSDLong
by The_202_Quants
2
$NEOUSD 4H UPDATE - 14/03/2018NEOUSD has completed a daily correction from 16/01/2018 jigh at 63.62 and has recovered in a 3 waves bounce to 141.16. From there, a FLAT rejected NEOUSD to 78.92 where the cycle from 20/02/2018 ended. Since then, the altcoin is under pressure as moves to the upside are in 3 waves in smaller time frame. As long as above 78.92, preferred view is NEOUSD is to regain the 100.00 mark and continue higher to challenge 146.12. Bounce in first 3 waves failing to gain momentum could see a break of 78.92 for a direct retest of 63.63 and most likely break below as this would mean a bearish sequence in daily.
BITFINEX:NEOUSDLong
by The_202_Quants