Theone
NEO Boom or Bust? Great Long term coinHi Trading View Family :)
This is for NEO's SHORT TERM price action.
I am a huge believer in the coin and was engaged in a trade from $65 with a sell out of 300% ROI. This is still a great long-term coin and I can envision a $500 NEO for 2018. So formulate a strategy if you have not yet entered the NEO market.
WE ARE ENTERING THE TIPPING POINT. NEO has been forming a HUGE multi month cup and handle chart and has recently completed the right side of the cup + handle. You can observe my previous NEO chart here:
If NEO decides to break out we can expect price actions to reach T1 levels. However, this is a critical moment for NEO. A failure to breakout will stop NEO's positive price action and a double top would formulate. IF this happens we can see the price fall between the first two support levels. Taking into consideration how every other coin has moved in this market we will see a decline over the next 2-3 weeks if a strong support level fails to appear we can expect a down towards the reset point.
Remember, we have to highlight that a normal 45 degree growth pattern is required to sustain long term growth/price action. This can start either on the blue 45 degree growth angle line or somewhere along the golden line.
Right now it is still in the ATH stage and a risk of downward price action is still in play. If you are looking to enter in a LONG (6months- multi year) investment position we can set purchase orders at the reset point or support level 3.
On a brighter note: If NEO decides to break out we have our targets set and a journey to NEO's new ATH will arise! NEO's timing on the market has been at a small offset and has moved far later than the rest of the Alt's and Big 3 coins. That being said, maybe this will be NEO's parabolic rise that we have seen with all other coins in the past two months.
I highly advise people to continue to take profits and sit into fiat. Crypto has been a great driver for wealth generation and force multiplication. However, maintaining all of your funds in crypto is a detriment to your profits earned. Cash is always king. We are still about 2-3 years out from massive implementation and adoption for daily use of Crypto.
I will continue to maintain and update this idea! Please like and comment for your support :) It helps engage in positive discussions and learning opportunities. If I can get 30 likes, I will do a TA of your choosing.
Good lucky and happy hunting!
Reg
Do you want to play a game? SPX500 - This is how we do itPerfect Fib match up along with a beautiful head and shoulders pattern to finish before the inevitable fall.
Who knows, maybe we might get an all time historical high while we are at it at 2135 or beyond.
"who ate all the pies"
I don't have a potato.
