Market Update: NEO @nakedtrader
NEO/BTC
China's Etherum, NEO, has just broken above a triangular pattern off support around the 86,000 level. We now look to the yellow uptrend line to help dictate where price will head next.
Analysis
Support 1: 84,500 - 87,000
Support 2: 63,500 - 70,000
Support 3: 46,600
- Optimal Neo Buy Zone: 46,000 - 70,000
Buy in here and HODL! if given the opportunity
If the yellow trendline does not break, and instead NEO breaks 97,700 (yellow resistance) we should not see these support levels again, as we have had a 50% retracement already from NEO's highs. In this case, I expect the green arrows to play out.
If the yellow trendline does break, we will see Support 1 tested again, and if that breaks, we should see the Neo Buy Zone
Closing Thoughts
NEO offers massive potential as a long-term hold. The best way to play NEO is to accumulate during the dips. Buy at the support levels (or on break of yellow resistance) and HOLD!
Click here to see which altcoin I believe is set to deliver a 70% return really soon!
Don't forget to upvote, follow & resteem @nakedtrader if you find value in my posts, remember to comment that you are following me so I can follow you back!
Click here to see where Bitcoin is heading!
What are the prediction for Neo? Price wise!
The support levels and rectangles for any drops (got some numbers in the blog too).
As for how high it could go- noone knows, maybe just $200, maybe $1000.
This blog is mostly to help steemians find an excellent entry point to take advantage of NEO's future potential
Support 1: 84,500 - 87,000
Support 2: 63,500 - 70,000
Support 3: 46,600
Can I messaged you on steem?
I don't think there an option :(
For the moment feel free to comment on my posts!