NEO Charts, Targets and Upcoming News/Events to look out for!
Comment your opinion below:-)
If you would like me to take a look at any other coin in particular, let me know in the comments below and I'll try and see what I can work up:-)
- NEO had a clear breakout of the Ichimoku cloud on December 30th
- The OBV is trying to break all time highs although the RSI touching overbought isn't helping, something to keep a close eye on. With some news to increase volume NEO should have enough juice to break the OBV all time highs and then really get going!
- The MACD has been in an uptrend since mid-December
My Next Target?
NEO is one of the coins I hold due primarily to it's fundamentals. NEO should thrive in the modern Chinese economy and has the government contacts to pull off the task. Along with being a coin you can currently stake, NEO has a lot of benefits to it on a fundamental basis. I rarely completely hodl a coin, as taking profit is necessary in a bull market but with NEO I am a confident hodler, looking forward to 2018.
Upcoming News/Events to look out for:
- G3 of China "Han Feng (co-founder of elastos) and Jihan Wu (CEO of bitmain), discussing a collaboration between elastos & Bitmain & NEO"
- Dublin Meetup, Jan 8th
- London Meetup, Jan 10th
- Hamburg Meetup, Jan 12th
- Amsterdam Meetup, Jan 13th
- dAPPS Competition Starts!, Jan 25th
I'd think twice. Perfect entry, which we can now see was when EMA crossed signal in MACD around 20 000 satoshis. RSI is unstable because the price had a lot of history on levels that have to be beaten. OBV looks like there is a demand but around 10000000 level there is a strong will to short.
Bitcoin being in the uptrend and stable between 14-15K I can see NEO hovering around current price for some time unless Bitcoin takes a hit.
The whole situation with announced meetings makes me think if current price is just the reflection of upcoming news. Because of that, I'd add Elder ray study in your analysis and Bollinger Bands to see the size of this move. If Elder stays in green zone I'd be positive about the countinuation of uptrend. Bollinger bands squeeze periods would be perfect to determine where we can short.
A bit discouraging about this trend continuation is MACD signal line levels that are yet to be reached. If Signal is high, RSI will definitely be stable.
Anyway, if you are shorting your bag consider doing it if 50% FIB move is reached, but not passed.
Awesome recommendations and analysis as always @yoshua !
Thank you. Thanks to your post I just did my own analysis and saw how well the price trades in high %R levels and how strong support we have around 60 000 satoshis. Volume is going up which is crucial for the upswing. All in all, I bought 10 NEO's to sweat with you.
Awesome! Personally I started off in crypto about a year ago focusing on fundamentals but within the last 6 months I've joined paid trading groups and also received 1v1 lessons on the basics of technical analysis. The additions you make are great as I go on investopida.com to research any termonolgy you use that I dont understand. All in all a great learning experience.
With NEO from a fundamental basis they have huge contacts within the Chinese Government through Hun Fei. Personally I can see some sort of annoumcement coming out of China with the tune of
"ICO's have been legalized and regulated through the NEO platform, where Chinese people may only have regulated access to fund ICO's through NEO"
All speculation but something to think about imo...:-)
Good to know about NEO. I'm just one of those guys that believe that every possible information that fluctuates in the real world can be seen and explained on charts. Simply, I believe that if used properly and in day trading, if being excellent in 10 studies you can't make mistakes.
Still, outside information like yours are precious and in addition with your chart analysis you will go far.
Balancing is the only problem :)
Thanks for the explanied comments, instead of upvoting your comment I upvoted your recent post as I think you'd care more about the vote their:-)
Cheers and Steem on!
Nice. Just a quick add, I believe that NEO vs BTC just passed your 50 FIB move (even tho we can never be sure where exactly the move began if we don't do 1/5/15/30/1hr analysis as well, but its close). Perhaps its time for another analysis :)