Neo has been oversold and is sitting at the bottom of the . We can easily buy around 11,000 Satoshi and Sell between 12,000 - 13,000 Satoshi for easy gains. This will be a quick trade and won't be longer than 3-5 days from now.
Overall I still think NEO is a great coin and has long-term potential to hit $200 within the next month or two and $500 sometime by the end of the year. Nothing to fancy here just an easy chart to read with easy percentages.
Feel free to look through my other TA's or message me. I share most of my trades on telegram with my private group, but i plan to be a bit more active here on TV to share the wealth.
Remember the goal is to be a consistent trader and learn how to multiply your money. You don't need big 50-100% gainers you just need to learn how to do 5-10% at least 2-3x a week, by the end of the month that is 60%. In crypto that is easily obtainable.
Wishing you all well Happy Hunting & God Bless
Space out your sells at .012-.013
Also we have to expect BTC increase to play a role. Once BTC reverses either at a double top or top of the channel we can expect more positive movements on NEO.
CHECK THE TA BELOW FOR REFERENCE ITS MOVING ACCORDING TO PLAN
This is probably one of the reasons why NEO is backsliding. But on a trading opportunity, we are sitting at a -27% decline. Normally after this far of a decline and bottom of the RSI we should see a price recovery. Be a little bit more patient. BTC's price action is the issue it hasn't recovered yet.
What a crazy week for BTC. So right now NEO has reacted how most alts react when BTC is on the move. The market has sold off a lot of alts with the price expectation of BTC's continued downturn.
What we need to do is incorporate the price movement and action of the Big 3 as they will play a huge role in how alt's move.
Right now NEO is at the bottom of the RSI on the daily, 4 HR & 2HR. So what was supposed to be a quick rebound trade (which was the ongoing pattern, if you study the previous trading days), was sorely affected by BTC double top.
As I have advised my group, it is time to take two paths, long term hold investments, or short term trades in profits. We need to have the proper mentality and expectation of the coin and look beyond the specific coin in question but take into account overall market psychology + news.
NEO is overall sitting at the bottom of the RSI and needs some level of price recovery prior to heading south (if it chooses to do so). Right now the market is fighting between consolidation in the bottom of the new uptrend, or further break down towards BTC's $7-8k range.
So we are expected about another 1-2 weeks of uncertainty as we watch the markets play out. Keep an eye out on my BTC posts for further updates.