Short

NEO short and scalp

Updated

Bearish triangle forming. If you read the September "NEO Smart Economy" update, it mentions a week long holiday called the "Golden Week" where the team will be less active. Following the week they claim there will be a "big event". In my recent experiences a week is a long time in crypto and highly speculative coins like NEO 0.40% will see 10% drops at some point throughout a week of no news. With BTC looking so bullish I'm taking a shot at a NEO 0.40% scalp. Sell .0083 and above, if we break support at .0078-.0079 look for a buy above .0071. I highly recommend not doing this with your entire stack because IMO -0.38% NEO 0.40% has been sitting on a launch pad. I'm even going to be extra ballsy and call .0084 as the ceiling we're touching on right now. The volume that pushed it up here on Bittrex is very low.

Note

There is also a support level at the .0075 mark that I didn't include on the chart. Basically the one we bounced off of. I chickened out and happily took the 10% gains that played out by hitting that level with 75% of my coins. I'm reserving 25% of my initial sell for lower levels.

Note

That was intense. I'm glad I saved some coin in case something like this happened. I have no idea what went on with the alt coin markets over the last few days. I think there's more to it than just people trying to accumulate BTC before the splits.

Trade closed manually

I'm thinking NEO is a really solid buy at this level.

jaronfitz

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