Let's jump right in. We are right now taking a look at 4h NEOUSD Chart. And let me just start saying, that NEO is about get his behind kicked. It doesn't look promising.
It all started with the , which took us all the way down to 50 USD. But Big brother Bitcoin came to rescue in the last dying minutes, and helped NEO up on his legs again. After a short visit to the hospital, NEO recovered pretty quickly. As you can see, we managed to make a 1st , and thereafter a perfect 50 % retracement on the 2nd wave, which also is equal to 78,6 % Fibonacci Level of the bigger Cycle.
We have now found huge support here, and have so far managed to go sideways for a while. BUT guys, IF we don't very quickly start to get that 3rd EW going a will take form, and we can expect to go even lower to the next at 58 dollars.
I want you to also to pay attention to the - it doesn't look good.
I will give you the 2 scenarios here:
1. BTC is at this very moment at 8,300 USD (around 50 % fib), and is on its 2nd Wave. If Bitcoin manage to go into a reversal now, and get that 3rd wave started, we will also see NEO doing the same.
2. If Bitcoin hasn't retraced enough, and will go even lower till lets say 61,8 %, you can expect that NEO will make a huge drop due to the and hit 58 dollars. Maybe we will go even lower to 50 USD, which is the next .
We need Big brother Bitcoin to rescue us once again. Will he do it? I will follow up on this later!
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Please give me some love, support and a LIKE - it would make me very happy :)
As you can see, so far the price follow my EWs to perfection, BUT we might adjust them later on, if BTC acts weird.
I will soon make another BTC-chart. It will be EPIC <$
Love yo guys <3 And remember to give a LIKE!
Nothing new under the sun here. But what you should pay attention to it, that BTC fare better at the moment than NEO. So BTC is still the better choice.
When we get more trust in the market again, NEO will probably be a better holding. But for now - BTC for the win!
D4 loves you <3
And remember to give a LIKE and a virtual hug. That would make me so happy :)