Orange text bubbles relate to Bitcoin, Green text bubbles relate to NEO.
Decided to label some key points NEO has had over the past year to get a better idea of how real life events affect NEO's price.
Some key points I was able to make out:
1. Re-branding has been hugely beneficial to NEO price and set it up to be ETH number one competitor currently. 2. NEO seems to be directly related to China, gaining nickname of "China's Ethereum" hugely boosted NEO's price early on but also severely hurt NEO's price when China had it's crackdown on all things crypto related 3. NEO is like all other ALTS when it comes close to BTC forking and will experience massive price drops in BTC value. This could be because of people wanting "free" Bitcoin from both Bitcoin chains or from Bitcoin making huge gains and BTC not being able to keep up in BTC price compared to USD price 4. Unlike other ALT coins, NEO has shown it can make gains in BTC value while BTC gains USD value... most alt coins usually have harder times gaining BTC value while BTC is also gaining USD value but NEO has shown through both bull runs in the past year that it grow while BTC grows.
Some technical points and indicators I noticed
1. RSI on a yearly view shows NEO to be oversold 2. MACD appears ready to cross but still shows signs of congestion 3. Bitcoin is still on a bullrun and we are nearing SX2 fork, NEO can probably still drop some more looking at regression lines
With all that said, I do see NEO dropping down between .0030 - .0026 Satoshi before the fork if bitcoin continues to increase. After the fork I think NEO is due for a bull run, all indicators point to NEO pulling a reversal, there has also been a lot of good news and updates regarding NEO and if we look at previous data from previous bitcoin forks we can see after both forks NEO experienced gains (this can be said about most ALTS) but with NEO especially after bitcoin cash fork we were able to see gains of 600%+. Hoping I can get some likes so I can chat in the Crypto Talks. Thanks !
Thank you for being one of the only few people incorporating fundamentals and events into your charts. More traders need to consider these exogenous variables.
irishgodking
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very will constructed chart. i like that its less TA bullshit and more events and btc upcoming events. ALL IN on NEO so im not worried but i missed the $22 neo that just came upfor like 10 mins. i have a stack of fiat just waiting for my time to pounce. great work keep it up
NEO & OMG were the only alts I was in, added WTC a couple months ago but now I'm just focused on accumulating as much NEO & OMG.
Shockinalive
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Nice post! Very helpful! What are your expectations on NEO after the fork? What price indicator could be reliable?
Wojak_Capital
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@Shockinalive, Hey man, I just started TA so I wouldn't know the best indicators for cryptos yet. I hope NEO can hit ATH before end of year, but depends on China.
Shockinalive
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@MountainDew, No problem at all. I like your chart :)! Me too would be really nice to so NEO rise!