NEOShort
NEO/USD short due to fork fluff.
Updated
With most alts down over the past week. NEO cant seem to find its feet with all this market fluff about the upcoming BTC fork. NEO cant push back over the 0.382 on Fibs and with the confirmation of the head and shoulders, I believe NEO will fall to the 0.618 and possibly even 0.786 on the Fibs chart.
I've got my buy orders in at those levels. Ive got 1/3 of my bag at the 0.618 level and the other 2/3 of my bag at the 0.786 level. Once we see those levels hit, I believe regardless of where we are at regarding the BTC fork, we will see massive increases as the institutional buyers come in. Once its at these levels, no one can resist that price.
Again this is all based upon current market conditions. If we see other alt return to previous levels before the fork, I believe NEO will return aswell, but with lack of a push past the 0.382 on Fibs, this makes me doubt that scenario.
Let me know what you guys think.
Thanks for your time.
I've got my buy orders in at those levels. Ive got 1/3 of my bag at the 0.618 level and the other 2/3 of my bag at the 0.786 level. Once we see those levels hit, I believe regardless of where we are at regarding the BTC fork, we will see massive increases as the institutional buyers come in. Once its at these levels, no one can resist that price.
Again this is all based upon current market conditions. If we see other alt return to previous levels before the fork, I believe NEO will return aswell, but with lack of a push past the 0.382 on Fibs, this makes me doubt that scenario.
Let me know what you guys think.
Thanks for your time.
Note
Once again, bounced off 0.382 mark and is heading down again. This play all depends on what happens in the rest of the alt coin space before the fork. We might see everything return to normal prices, or we might see a further decrease as everyone increases their BTC holdings. I'm still watching this play before I move any money into NEO. Stay tuned for more updates.Note
Watch this trend line (tradingview.com/x/Q39a6OWV/) closely as if this trend line breaks, we might see NEO return to previous levels. Also watch closely what BTC is doing, it seems NEO is doing the opposite.
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