NEO: A Bullish Setup!!

in neo •  28 days ago

SUMMARY

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NEO has likely completed a sizable ABC correction as also qualified by the subwaves. The resulting pattern has also been a Cup & Handle as can be seen in the below chart. This is a bullish pattern and while the retracement thus far has exceeded the 0.78 Fib level, it doesn't become invalidated until price exceeds teh lowest point of the cup formation.

NEO impulsed in five waves (blue) since the red C wave bottom. The current correction is labeled with ABC. While there are multiple ways of labeling this same correction, the red abc seems the clearest.

The MACD pattern remains bullish and this combined with the Cup & Handle, the setup remains bullish. There is still some room for the MACD to wiggle a bit further within the ever contracting lines; but the breakout bias is likely to the upside.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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Elliott Wave Counting Tutorial #1
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The whole NEO Smart Economy is amazing and I feel its the most undervalued blockchain out there.

check out this airdrop on the neo blockchain - after the massive surprise that ONT was this is well worth getting in on!

Use this link for extra coins when joining - here

Nahh I'll pass on NEO

Thank you

Very impressed with their Java library as well!

Thank you, @haejin
The information you provide this start I can understand, good post

NEO continues to impress me with the amount of thought and focus that is put behind the entire smart economy ecosystem. Neo, Ontology, DeepBrain, The Key, OnChain, Trinity, etc, etc, etc. I expect Neo to continue to be a big time value play (that pays dividends!!!) today and well into the future!

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No doubt J3...the amount of GAS that I've earned is staggering...no other project I've invested in treats me this well...this is a major long term project and investment

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I missed out on the Neo train, I'm hoping that the VenChain will offer similar payoffs of Thor (gas) tokens.

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Yes sir..... Vechain is gonna be huge!

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I like Vechain as well...EOS to me is going to be the powerhouse along with NEO and some others in the next 2 years...it may cool off until projects start being launched on EOS, but with Bitfinex launching a decentralized exchange on the EOS chain along with others is going to be massive...think about it...Bitfinex is a multi billion dollar company if it was analyzed by economists due to the yearly income these exchanges bring in...can you imagine how much EOS will be if it's successful and many multi billion dollar projects get on board...plus Mike Novagratz the famous hedge fund guys and other investors poured over 100 million dollars into the EOS ecosystem..he has many friends on Wall Street...to me, when institutional money starts coming in EOS is going mental...this doesn't take away from NEO though...NEO is going to thrive due to the massive amount of businesses big-small, corporations and government agencies that are in China with the largest population on the planet..plus they will be worldwide, but China is a great incubator for this project and will be massive

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I totally agree about EOS. It's my #1 position. VeChain is my #2.

For NEO, being hand picked by the Chinese government should propel them.

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Indeed..... love that #GAS. Question for ya..... do you flip your GAS into more NEO? I generally do, but I go back and forth thinking GAS will mega moon someday due to the limited supply that is currently circulating..... only 10,128,375 per Coinmarketcap.com

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Yes J3...great great question...i hold them because like you said, they are used by projects on the platform... i would go as far as to say, GAS may eclipse NEO and eventually be the one that pulls NEO up further...so I"m definitely keeping this investment in my retirement portfolio...NEO is so massive with so many partnerships that it isn't going anywhere and will grow exponentially in the next 5 -10 years

Im looking for confirmation in the blue zone below. Still room for BTC to carry alts down with them after breaking the 0.07 resistance
vUdtlRz4.png

good information about the bot and all into cryptocurrency. really enjoyed i do cryptocurrency as well, i am going to follow you now as well, thanks

thanks for information :D

I must say I totally agree. As soon as NEO went below $60 I had to buy more. If the market manipulation and speculation on regulation would take a break all cryptos would be back to the moon!

You have a minor misspelling in the following sentence:

78 Fib level, it doesn't become invalidated until price exceeds teh lowest point of the cup formation.
It should be the instead of teh.

I like that Neo farts out gas

It's all a bullish set up right now no matter what you look at really. What goes up must come down and same goes the other way around. Crypto is way to schizophrenic to do proper technical analysis. And news influence decision making on the part of the investor more than any market, as the people involved are so few and they are very very involved reacting to any little piece of news in an exaggerated manner.

The platforms dont fail to perform.
Ah i still rememmber the days when antshares was 0.12$

nice

I tend to agree with the upswing as well however, the market manipulation has to stop before any of this matters. HODLing is the only way to beat the bull and bear traps until we get more regulation inserted. just my $.02

Thank you, @haejin
The information you provide this start I can understand, although still a bit difficult. But I keep trying to follow you to get better information day by day.
ok

Tomorrow a collaboration of NEO with MyWish will be announced.
I hope that both tokens will fly to the moon!!

haejin, you came out of nowhere and you are killing it in Steem with stunning content. This truly shows that when one is dedicated success does not take long to follow.

haejin is a straight shooter and I am glad to see that he continues to give solid advice.

For any of you who feel pitty for my lil bro, DONT!! His life is probably a whole lot funner than yours...