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NEOBTC

NEOBTCLooking at NEO on the daily chart * Cutting a fine line with NEO. Will this last support hold? * Willy stupidly oversold, no bullish divergence yet * Histogram pushing out a bullish div * OBV not the best but wanting to create a W and to push higher * VPVR looking full with minimal notches * 200 & 50 MA's looking for a golden cross * Purple line is last support How ill be playing this is that I want to see structure built on the support level, I don't want to be catching any knifes. I'll be waiting and watching. * Don't forget to hit that like button and follow me on Trading View and Twitter for more chart analysis :)
by Cryptonite_trader
Is NEO Dead? Or Is The Bear Trap We've Been Waiting For?Let us return to the bear trap idea I posted about a couple weeks ago. On April 16th, I speculated that we'd see altcoins continue to drop on their Bitcoin ratios, but that it wouldn't last too much longer. Indeed, NEO slid lower, even beyond the point I was even hoping it would bounce. However, the "bear trap"/ terminal shakeout idea is still in play. During the end of an accumulation phase, an asset will often experience a test of lower support levels. For NEO, the price decrease happened on low volume after a massive volume spike that took us all the way up near $14, after bottoming in December below $6. Since then, we've corrected down to the $9 area (a healthy retrace, in my opinion), and have begun forming what could be a double bottom on the Bitcoin ratio. AS LONG AS Bitcoin doesn't drop too much here, I think we can expect NEO to bounce. News for NEO seems to be pretty good, as they just released their Roadmap, which is both ambitious and promising. Activity in their community seems fairly strong. There's no reason to assume the project is "dead." Whether or not it achieves anywhere close to its ATH in Bitcoin value and USD value in the future remains to be seen...but I'm still holding it. Additionally, if we look at volume, we had a spike just yesterday when we bounced a bit. This is bullish for NEO, since I'd be more worried with an increase in sell volume. That's not the case here. On the contrary, NEO has experienced nothing but large buying volume recently. This tells me we are in a strong demand zone. If Bitcoin does break down, however, NEO could head down to either test the $5 support or even make a new low around $3.70. For now though, I will assume that these levels will continue to hold. I could be wrong. I guess we'll see. Since so much trading already occurred between 2000 and 2400, I wouldn't be surprised to see a much faster rise. The same could be said for XLM, which may also be experiencing a similar shakeout. In summary, these are my criteria when looking for a possible terminal shakeout/bear trap (all of which occurred before the ONT rise as well): 1) Fakeout pump on big volume 2) Low volume dump to below psychological support 3) Accumulation on periodic high buying volume Result: Massive green candle, or BGD and then markup from previous high. So far, NEO checks all three boxes. Let's see what happens. Here are some possible targets if it bounces from here: 1970 2150 2400 2700 3300 4600 This is not financial advice. Just something I've been looking at. This is meant for educational purposes only.
Long
by VictorCobra
1
NEO, ONT, and XLM - Comparing Terminal Shakeouts Even though I've been leaning a little bearish on the market recently, since a lot of altcoins have broken their mid-term uptrends against Bitcoin or even headed back to major support levels...the USD value of many altcoins remains fairly bullish for now. NEO, for instance, is still above $10, despite drifting down to lower supports on the Bitcoin ratio. Much of the recent bullish action on NEO has occurred with massive volume. Meanwhile, our current selloff is occurring on low volume. This is exactly what happened with ONT before it went on its major run, where it tripled in USD value in several weeks. Additionally, the consolidation period after the November selloff has also occurred on higher volume than the drop. A while ago, I posted an educational video about why I entered a long term position on ONT at $0.60/1700, and how I was able to spot accumulation (the link to that video is at the bottom). I also saw it occurring with ICX, which is why I posted the video on the ICXBTC pairing. Looking at the NEOBTC chart, we can see that it's printing a somewhat similar pattern with a similar volume profile as well, albeit on a much larger time scale. One of the major differences is that NEO made a higher high before dropping, which indicates that buyers do still exist for NEO. The rejection is a bit more concerning, which tells us that NEO isn't as strong as ONT, for now. Investors are concerned that NEO will continue to lag behind the rest of the market, as it has really fallen from its former glory. Here's the ONT chart from its recent bottom: I'm presenting this comparison because I think there is still hope for NEO. It's certainly possible it heads to new lows, but the volume profile tells me there is some decent interest at these recent price levels. When ONT rose from $0.50, there wasn't really any major news to back it up. The market simply decided it was undervalued. I'm still holding my long term position on NEO (having bought it with my TRX back in early January). NEO has still performed better than TRX since then. Additionally, a similar "terminal shakeout" could be occurring with XLM, as that one is also drifting lower on decreasing volume after a period of huge volume accumulation: Based on my chart, even if NEO is to rise again eventually, it still may need to fall to a lower support (indicated by the red X). After my previous analysis, NEO hit my first target between 2600 and 2700, but only to get rejected hard. The good news is, the 2400 resistance might be a bit weaker now, should NEO eventually get back up there. Looking at the USD chart, you can see it looks much more bullish than the Bitcoin chart. We have some room to go down there, and we still haven't broken our uptrend on that pairing. If NEO is to rise eventually, it could take a while to break the $14 resistance, as it was previously major support (that was my target in USD value on the recent run up). The market needs time to accept current prices after such a severe decline, so some consolidation would definitely be welcomed. it would give a good opportunity for buyers to support a new floor for the crypto sphere. Of course, If the uptrend fails to hold, it won't be good for NEO, or most other altcoins for that matter. Anyway, this is not financial advice. This is just a post I wanted to make, since I thought it was interesting. I hold both ONT and NEO, and I'm curious to see how they both continue to evolve. -Victor Cobra
by VictorCobra
Daily Bullish Signal $NEO #NEO #NEOBTC #BTC $BTC (14/4)RED ARROW indicates the EXPECTED Time and Targets Level Stoploss point up to maximize profit and reduce risk I'm working all the time, even in Bearish Market ====================== My path doesn't seem like anyone. I'm like a MONK, always studying to find the direction that prices will follow. I will feel very comfortable if the price goes exactly in the direction I drew. I will always try and practice until PERFECTION is MY OWN
Long
by CryptoStation