NEOBTC has been in a bearish channel since the China ICO ban announcement, and has yet to show any signs of a bullish comeback. The price has consistently dropped via a series of well defined pennants in a downward trend. The latest of which, formed over the last couple of days, suggests a further drop to support levels at 0.005.
A break below the 0.005 support would suggest a further breakdown to 100% retracement levels around 0.0025 with potential support along the way around 0.0045 and 0.0035.
Wait for the bottom, buy the dip and hold tight for the climb! It all depends on the next announcements to come out of China regarding regulations / limitations on the country's Bitcoin exchange infrastructure.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.