Short

$NEO has formed a Head & Shoulders formation.

Updated

We've had a fantastic rally from the announcement for the Airdrop support for NEO, but we're seeing some weakness in the NEO rally.

What we see now is a potential reversal pattern. We've NEO trending near the upward trendline and we have a head and shoulders formation.

Historically, coin's prices drop slightly before and more after the Airdrop.

Please practice caution during this period.
Please do take note of the airdrop snapshot date and time on 1st March.

Note

In my previous analysis, NEOBTC was looking frightfully fragile. The H&S break and uptrend break is a massive red flag at this moment.

With most historical airdrop coins falling prior to and during the Airdrop dates, we will likely see a larger retrace of NEOBTC in the next 48 hours.

I'm writing this not to FUD, but to inform of the potential and Airdrop dump that will likely be coming for NEO.

Good luck and good trades to all!

Note

Starting to look ugly on the charts.

Note

This is the charts after the snapshot was done.

I've to date, not found any coins that didn't dump after their Airdrop.

For the ones still holding strong to , all the best! be safe out there!

Note

Zooming out, it almost seems like NEOBTC is making a massive H&S.

xSnorlax

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