Hi Steemians!
NEO is a coin I've been following attentively, and looks just about ripe to shoot into the sky. After peaking at ~0.014 BTC on 1/15, it has nearly finished it's Fibonacci Retracement-- and is now trading sideways.
This is a GREAT sign to me as a large majority of the market tanked with the decline in Bitcoin from $12k to $10k. However, NEO remained largely unaffected, indicating that NEO owners refuse to sell, and are holding onto their valuable coins.
Currently NEO is displaying a huge bullish pennant, pictured below:
Here is what a traditional bullish pennant looks like in comparison from a technical analysis perspective: (below)
Thus I believe that now is a great time to be acquiring a bag of NEO, in preparation for its run-up in the coming week!
I believe we may see NEO shoot up to ~0.018 BTC and have bought NEO accordingly.
Disclaimer: These are my opinions and should not be taken without proper analysis and weighing of cost-benefit. I void all responsibility for any loss or gain that may result from following my writings, although I will be executing according to what I have written. Best of luck to us all.
