NEO-USD Short - Critical Price Point
NEO has been building a great base of support, and a myriad of legal/governmental policies around the world--namely, China-- have been driving this currency into the forefront of "next-to-emerge" Cryptos that are traded against the USD and other Fiat currencies. Currently, NEO is sitting right on it's "steep" upper growth channel, but has potential to go either way depending on the Moving Average indicator alignment as well as which channel NEO ends up in (at close on 12/7/17).
Summary:
2 sets of indicators showing good predictive capacity--7-day, 3-day, 2-day MA in conjunction with each other often set the tone for many crypto trends, as well as the basic parallel channel movement to indicate breakout up or down.
IFF: NEO closes high enough to keep the 2-day MA above the 3-day MA, which also closes in the Blue Channel, then we could see another large jump over the next couple of days (1-2 days, with upside ~$45-47).
If: NEO closes in the Blue Channel, but MAs indicate downward trend (i.e. 2-day does not cross 3-day upward), then we will likely progress near the lower limit of the Green Channel for some time with minimal swings in value (~$31-36); however, this scenario still has good upside for a near-future breakout (3-5 days).
If: NEO closes in the Green Channel, but near the lower limit of the Blue Channel, we should see a relatively quick bounce-back, but only moderate with respect to the recent major upswings (1-3 days). Furthermore, the following growth must surpass the lower limit of the Blue Channel for this to continue as predicted.
If: NEO closes near the lower limit of the Green Channel, we should expect a rapid, growth phase immediately following--though it may not be apparent until later in the second day--as many may panic sell in- or near the Gray Channel.
As always, be smart with your Crypto movements, don't short BTC unless you're a maniac (it's kinda fun to be that risky......but I think it's more fun to only make gains), and feel free to ask questions, comment, or share if you agree/disagree!
-Jordan
Summary:
2 sets of indicators showing good predictive capacity--7-day, 3-day, 2-day MA in conjunction with each other often set the tone for many crypto trends, as well as the basic parallel channel movement to indicate breakout up or down.
IFF: NEO closes high enough to keep the 2-day MA above the 3-day MA, which also closes in the Blue Channel, then we could see another large jump over the next couple of days (1-2 days, with upside ~$45-47).
If: NEO closes in the Blue Channel, but MAs indicate downward trend (i.e. 2-day does not cross 3-day upward), then we will likely progress near the lower limit of the Green Channel for some time with minimal swings in value (~$31-36); however, this scenario still has good upside for a near-future breakout (3-5 days).
If: NEO closes in the Green Channel, but near the lower limit of the Blue Channel, we should see a relatively quick bounce-back, but only moderate with respect to the recent major upswings (1-3 days). Furthermore, the following growth must surpass the lower limit of the Blue Channel for this to continue as predicted.
If: NEO closes near the lower limit of the Green Channel, we should expect a rapid, growth phase immediately following--though it may not be apparent until later in the second day--as many may panic sell in- or near the Gray Channel.
As always, be smart with your Crypto movements, don't short BTC unless you're a maniac (it's kinda fun to be that risky......but I think it's more fun to only make gains), and feel free to ask questions, comment, or share if you agree/disagree!
-Jordan
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