SUMMARY
NEO needs the buyers to come in and start buying ASAP! It has an overhanging bearish threat as shown in the second chart. Given a near 10 consecutive down days, there will be a bounce....but it needs to be susainable and trend reversing! However, since Bitcoin has been delivering some good volume and a bounce; the below chart shows the best possible bullish scenario with the ABC correction complete and an impulse of blue waves has begun to the point that blue 1 is complete and 2 is in progress and nearly complete as well. The white abc shows that 2 could be in its terminal end. In order for the blue 3 to start charging upwards, we need the buyers to appear now.
Given how the price has been moving sideways, the correction can also be labeled with WXY (blue). IF so, then Y is not even close to being complete. IF this is correct, the lower end target is at around $40 as shown by the white arrow pathway. I've been watching this for some time and wanted to bring into the blog readers' awareness. In order to avoid this scenario, price needs to start charging towards the upper white trend line and decisively breach it.
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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Remember
Dear @haejin
You have been flagged via the flag-a-bitch app. The reason is you have been found to be Raping the reward pool with a rate of around 2.133% of the reward fund. To add onto this, your TA's are so horrible that a simple check with a mock portfolio will provide a negative value.
The flag-a-bitch app is being used on you because of your consistent blattant abuse of steemit through means of: abusive self-upvoting, collusive coting groups, and disagreement on rewards. Since we deem that you have been damaging the steem economy, we flag you.
If you would like to help us out with our quest to fight abuse you can check out our post here.
Thank you!
If it does hit these prices they will be swallowed up quick....the amount of ICO's launching is many...so undervalued right now in my opinion
Agreed. I think Switcheo and NEX will definitely help increase liquidity among all Neo ICOs and hopefully that should help increase prices!
Agreed, NEO should be trading much higher. Like all alt coins it's relying on BTC to help it's price gain some momentum. Once that happens we won't see NEO at double digit prices again. Could be over a $1000 by 2020 easily
Just another follow up on that as well would be to look at the price action on NEO during the APEX ICO (launched on NEO). NEO prices rose close to 50% in the 48 hours leading up to it and ultimately hit it's all time high just shy of $200 the week after. During the same period BTC lost about 30% of it's value. I made good money trading NEO during that time. Reinvested it back into NEO when it dropped back down - it's now a long term hodl. Forget any FUD you've read about them having a technical issue last week. Ever fintech company is going to experience a similar issue at some point during their early years. It's how you respond to that problem that shows the long term viability of the project.
totally agree with you tales....we seem to see this FUD come out on all projects once they hit high levels...either people get jealous that their project hasn't performed as well,they don't agree with the Chinese strategies being an open new economy, or they have to get views on their blogs...im a long term holder as well friend...in a few years we will look at these prices and laugh
Coins mentioned in post:
good article
I have been reading quiet a lot about cryptos @haejin, But I am still trying to grasp, what might be some of the definite reasons behind a coin’s price upsurge or downfall in the cryptocurrency market?
I am particularly interested as Bitcoin and by association several alt coins continue taking a dip.
What are these reasons based on? I read somewhere that they are based on Calculative speculation and market sentiment. How true is this?
Anyone that has learnt a little TA and done some EW analysis knows that NEO hasn't had a serious pullback for some time. This was clear more than 2 weeks ago, including more than 10 days ago when you made your post "NEO Has All Time New Highs Written All Over"...
https://steemit.com/neo/@haejin/neo-has-all-time-new-highs-written-all-over
I am not hating on you, but the more I learn TA, the greedier your posts seem. This was clearly not the most likely scenario based on TA (anyone could have spotted a diamond top without even knowing EW analysis).
Nobody knows brother...there are different strategies in TA..with EW in particular, the current counts stays until it is violated
@shawnster yes I agree with you, TA is not an exact science. But in this case, there was a clear pattern with NEO that anyone who has been doing TA for more than a few months would know. The decline in volume, the overall bear market, the diamond pattern. I can see NEO going a lot lower (perhaps the $60-$70 range) before it makes a real rally towards his numbers. It seems like these are all the pumped out and people upvote because they're holding the coin. Not only that, but BTC dominance is at over 40% which means the only way to get alts moving again is when BTC makes a move upwards, which may not be for some time.
I agree, we the daily trend line doesn't get broken, there buyers at the $60 level.
I'm buyer when it gets to below $40....
All im doing is arbitraging http://arbiswap.com in thisBear market
Hey guys...just wanted to ask the community how they feel about ICX ICON...I've been researching this one the last few weeks...just wanted to get everyones take...cheers
last updated 7 seconds ago. However, the analysis of the graph shows that BTC have done the re-38. new in sight? Pelham Smithers Associates using logic sraffa and Milton, and the price futures in deribit, Exchange derivatives Europe for digital currency, to extract the interest rate bitcoin. Randy quarles then said that economic system can be very challenged by of liquidity risk and credit caused by the lack of Exchange stable between crypto power, such as bitcoin, and the US dollar on hard times. Nobel prize winner say Yes. team Draper and the Twins winklevoss. bitcoin can be used, but do it will cause loss of money in stock Exchange. Ed: should bitcoin banned? with decisive action against the activity of fraud commercial banks and decrease in the system global currency, bitcoin are at position for optimal evolved into global currency next. this is a vehicle to do the bunko. although view all of this, I still quite surprised that many people tend to consider that bitcoin currencies, while at the time it is not a threat to the currency our regular. CME group launched futures bitcoin Dec. Wednesday follow upward trend of the long weekend of gratitude. August 2017, according to the site bitpay. course bitcoin update a maximum of history. Nice @haejin
Take about it how important the post it is! You have just made a outstanding post. Just amazing ... carry on sir,,
125/5000
Āmi biṭa kaẏēna samparkē natuna jēnēchi.
Tabē biṭa kaẏēna mārkēṭa ēkhana khuba bhāla yācchē nā.
Biṭa kaẏēna samparkē āmi ārō jānāra cēṣṭā karachi.
I learned new things about bit coins.
But the bit coins market is not going very well now.
I'm trying to learn more about bit coins.
NEO oh my man this is one of the most loved undervalue coin by youtubers every youtuber i follow love NEO still the price action is so low as you said too, NEO is the future ETH and i wish good luck to all who are invested in it.
@haejin i always read your blog and analysis and it helps me alot in making decision.
But if someone has already invested almost $2k-2.5k in crypto and now it would not be possible to invest more keeping trend since last Dec.
as per my observation instead of getting more buyers we need focus on sustaining price, it can be possible if sellers stop selling at low cost or we can define the breakdown margin at higher value.
with current situation i would not be investing more as its total illogical to buy at higher price where trend is downward or uncertain.
lets week BTC was above 11k and now its around 9k. all we need to sit tight and wait for stability.
Hi haejin I wonder if u have any opinion on ENJ?
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 158.02 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Yeah, you are very correct!! Thanks for sharing with us!!!
Congratulations @haejin, this post is the seventh most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 39 and the total pending payments to posts in these categories was $2680.49. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
WE ARE THE RESISTANCE!
The message here is deleted!
Haejin is far from being a minnow that needs protection from @The-Resistance
@The-Resistance is here to stop this and protect the weaker ones from the tyranny of @GrumpyCat
Join our bot We-Resist to protect minnows https://we-resist-bot.herokuapp.com
Come to our house to meet with the community https://discord.gg/qMWCbWR
The Resistance
I'm happy for the cheaper prices.
good post
When you copy/paste or repeatedly type the same comments you could be mistaken for a bot.
Tips to avoid being flagged
Thank You! ⚜
LRC ?
@Haejin You do not provide any entertainment. I brought you some.
For me, it's good to buy now.
More ICOs are coming, NEX is on my top list.
HODL neo, it will reach $500 soon!
INTERESTING
thought i would share this news today with you guys...this thing may correct, but man what a gift at these prices
Deployments thus far include:
2… twitter.com/i/web/status/9…
Disclaimer: I am just a bot trying to be helpful.