Crypto_Ed

Trying to chart the NEO pump

BITTREX:NEOBTC   Neo / Bitcoin
Pretty tricky to make a chart for such a pump, but lets give it a try:

Based on Fibonacci, target for leg 3 would be the blue box where we are right now. If (a big IF) we retrace from here, it could go back to (4) for a next leg up.

All indicators show overbought and retrace possible (indicators are not leading for me, just a tool).

Don't get caught in the hype! Trade what you see, not what you think. Use proper risk management with these kind of pumps.....

If you like my ideas, give a like and check my others ;-)

Happy trading!





Bình luận: quick update: it extended a bit further...exactly on the next fib level.
I'm detetcting a trend reversal pattern right now. Lets see

Bình luận: The pump was too strong :-)
NEO went parabolic....Lets wait till it gets a bit more settled amd see if I can detect a pattern.
Bình luận: New try ;-)
NEO broke out of the channel, retested that trendline and looks to me as it goes testing again. Currently I'm detecting a bullish pattern, depending on the strength we can see a further retrace to the blue box or a bounce from the trendline.
Watch priceaction near trendline, a strong bullish candle is a buy signal.

How likely is it that it would keep rising even more before retracing? The daily chart looks like it should drop way more then it has now, i would'nt be surprised if it keep going higher.
Phản hồi
Crypto_Ed PollysCracker
@PollysCracker, In my believe you can't say anything reasonable about that or predict anything. This is just a big pump where all "rules" of TA are neglected. Maybe somebody with a crystal ball can tell us ;-)
+1 Phản hồi
Nice analysis. Please keep this updated. Im very eager to get back in around the 0,0045 area.
Left Neo way too early to take profits and could only watch the rise from the side lines.
This pump is out of this world.

Could we see something similar as in June when ANS went from 0,0007 to 0,0054 and down to 0,0017. That was the 78,6 line.
78,6 would mean around 0,0038 now.

Does the fact that a lot of new investors are in this coin play any role at all or is this irrelevant?

Thank you again for your analysis.
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@Dubee83, I'm updating daily and when something might happen. Make sure to follow me also on twitter, can't assure that all my updates are published here also.
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we got H&S formation down it goers
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I'm also expecting it will go down now. Man what a ride... 1 thing could still happen today though: announcement of NEO being added to a Japanese exchange. Team is in Japan at the moment, and some hints were made about this happening during their stay (for source: check the AMA with founders in Reddit).
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florisNL florisNL
@florisNL, can't remove message and don't want to start any rumours, not so sure anymore if the exchange thing is going to happen. Below is from Q&A of Meetup that is currently being held in Tokyo (answer was given 30mins ago):

Q: Trading exchange question. Will Neo be available listed in Japanes exchange?
A: We would like to. Please write to those exchanges requesting Neo as it is not entirely up to us.
Phản hồi
Crypto_Ed florisNL
@florisNL, I'm not checking any fundamentals. A chart consists of wavepatterns and news is used to make the pattern. It's a bit tricky in crypto but the level of being on the right side surprises me ;-)
And don't forget: I trade on breakouts, not just jumping in a trade. Trade what you see, not what you think
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