NEO Correction Can Extend into April

in #neo3 years ago

SUMMARY

Last week, the below chart was posted on NEO showing a potential lower lows into this correction. The pattern used was a flag and the count was a tripl combination.

Since then, price has declined and IF it is able to find support at around current levels or even a bit lower; the below pattern is proposed where the Elliott Waves could offer some next step probable guide. The red abcde could play out to be quite opportunistic.

The subwave fill shows the required 3,3,3,3,3 for the abcde. This would have the a,b and c complete and the d and e would be expected to be next. This pattern would allow the time extension to the correction with the sideways movement. The key is that the lower white line needs to hold as support and price needs to starting finding a bounce point. IF the lower white line gives, then the $40.20 could fast approach.

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Thanks for the info!! This seems like a good timing to buy...

What do you think about BTC.
Will it touch its last lowest level which was $6k or will go up from $8k?

Does anyone has idea when lightning network will be implemented?

It might continue to go down, since it has broken all the buy support lines. I don't think it can go lower than $7k though, but I might be wrong.

The lightning network has already been implemented on the main net, but it's still in beta. Only the devs should be using it right now due to some risks.

Looks like the white line has breached and $40 Neo is in our future...

Neo is screaming buy at this level....buy orders are sitting at $53. I'm looking for price to break the daily trend line, then break out to new highs, then buy on a pull back...target is $140.

Supply and demand trader? :)

Check on the 4 hr chart, we have a fresh demand zone at $53, which was the origin of the strong move up to $150.

Lol. Where is the next zone. $53 went by a while ago. Reckon the $40 zone is coming next.

The buy orders at $53 couldn't hold off the onslaught...I was wrong. Thus, if the weekly demand zone doesn't hold, we could go as low as $30. More importantly we need to break the daily trend line for confluence...for a potential buy on a pull back.

That is quite scary. Hoping it goes to $30 as have been waiting for an opportunity to get quite a bit of Neo. The free gas is what swings it for me. If Neo hits somewhere around $200 gas will be around a third in value maybe more so say $65 - $70. Would be a no brainer of an investment.

Totally agree, one of the few coins offering dividends...I think Neo is an undervalued coin.

neo.PNG

ITs inside a weekly demand zone now. and inside a daily demand as well. But note this demand zones are not fresh. a bounce here is not guaranteed. could go a bit lower.

This downfall will continue till G20 summit if any good news will anaunsd from G20 then probably bit will recover as well as NEO and other cryptocurrencies (hope for the best)

IF BTC price rises then i’d Expect a breakout on the d wave. If not then all bets are off

That's a great point as well...sell the rumor...buy the news...but I don't worry about the news, I just read the charts..news just get in into trades and my targets get hit quicker.

Neo, like all altcoins, is currently at the mercy of Bitcoin. If it falls, NEO falls. I believe Bitcoin is nearing the end of its correction. Once complete, NEO will rise.

Bitcoin a screaming buy at $6000.

Bitcoin is doing the same thing it did in 2013-2014. Extended and boring correction and then it finally took off. I am not sure a about 2 years. But it does look like a long and painful correction that will continue for a while.

At this moment, it is hard to hoddle neo =/

why would you sell it when it's nearly worthless ?

$56 worthless ? You must be loaded lol

yeah with my 1.2 NEOs

Hey gotta start somewhere good luck my friend

Why is @haejin only talking about NEO specifically though? Pretty much ever coin is dropping anyway.

im bearish on neo want to pick up those cheap bags love the smart economy.

I agree but remember for a triangle to work it needs to break out about 3/4 of the pattern.

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Good for those looking to get in!

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
EOSEOS4.121$-12.96%-32.84%
NEONEO54.658$-13.36%-39.63%
QAUQuantum0.138$2.27%-17.45%
WAVESWaves4.146$-11.06%-28.51%

@Haejin I no longer believe anything you post here on #Steemit.
You even upvoted me one day & then removed me. That really made me upset!!!

https://steemit.com/haejin/@born2crypto/haejin-predicts-bitcoin-will-be-usd270-000-by-2025

whine whine whine

red or white?