Remember when we said regulation in China was actually good for cryptos. That China wants to be a leader and at the forefront of this new technology? Well I still believe that and it is important in a portfolio to have some Chinese exposure and that coin for me is NEO'! Why would you ask? Not only do Asian's use Cryptos more than anyone else they use it for good reason. Let me take you back to the 1997 and the Asian financial crisis China, NK, Thailand and several others saw their currencies get crushed, people's savings turn to nothing, it was devastating at that time in Asia, so it's no wonder they have in-braced this technology faster than others as a hedge against another financial collapse so I want a piece of it.
Nobody does more trade then China. China is the 2nd largest economy in the world but they are number 1 when it comes to exports and by almost 30%. They are leading in block chain development, mining and regulations. If you are looking for Chinese exposure to smart contract block chain NEO' is my first choice.
To say the least NEO' has been quite boring. Unless you have been channel trading. Now you should NEVER use you core position to channel trade and this is also the reason that investors that trade a little almost always outperform traders that trade everything.
Example: BCH when it was in it's long channel we started accumulating around $300. Next there were several TA's that came out with trades. Buy @ 326 with a target of $460. That is a nice profit of around 40%. But heck you missed the bulk of the move to $2400 and right now we are sitting in the $1200 range just 2 weeks later. So why a trader made 40%+-, an investor made well close to 400%. If you added a trade as we did to the investment your sitting happy as a pig in mud on a autumn day! I know many caught the big run to $2000+ and that was a nice 680% profit. Some sold a few or sold out allowing them to buy back in lower, (I missed it to be clear). So now they made 350% cash profit and have all their coins for free. Now you know why I have always stated INVESTORS OUT PERFORM TRADERS ALMOST 90% OF THE TIME!. Which is why I am an investor/trader.
NEO' is no different. I've been accumulating down here as well as I have done a couple trades when I was awake and caught them. But NEO' appears to be setting up nicely for a large run. I would think $85 would be a minimal target level. But what do we need to do to get out of this box? We need a catalyst! There has really been no news on NEO' for quite some time, at least anything significant. Of course we could also get a resume of the bull market (which I will be writing about shortly) for which a rising tide raises all ships. And NEO' is definitely one to be raised but we need something more. On November 21st Neo will be part of the "blockchain in Fintech" "Future of Money" in Shanghai. Hopefully we get a good fundamental change or updates that send this coin higher. I imagine in the next week or so leading up to the event we will get some price movement.
Yes there are LISK' and QTUM' ETH' and all could compete with NEO'. But NEO' is an investment in China (and I missed out in the 90's-2000's), and China is a leader in world trade. So even if it's just the Chinese NEO' the market is large enough that NEO' could become a leader. Does it challenge ETH'? Who knows but the way ETH' has been handling itself lately LISK' QTUM' and NEO', could make a run for it. But China being #1 in trade volume and being the 2nd largest economy in the world, could push NEO' to the front! You want to do business with ME you use my setup!!
Komen
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An update of the chart and some similarities that lead me to believe we are entering the 3rd wave of both the mid and long term cycle. This is the best waves to trade and the one you want to be invested in a full position. Thank God we were adding in the $27-30 range. Let's see if it can hold the channel.
I'm a newbie on here but i have some things clear:
- I only invest in the coins i REALLY believe
- I want to buy dips and accumulate them to the long term
- I use tradingview only to see better entry points, i really don't give a fuck about stop losses, because if im in, im in, but in the end with a better entry point.
I still don't understand why trade in the cryptocurrency space, almost every good project will grow a lot in the long run, why you have to take risk if the reward its that easy to predict? i think you can literally throw
100k$ in the best top10 coins and forget about it and you will do better than trading, or at least i think that, i just like to research just to do a more worth movement, but we will all win in the long run, i think a lot of people just will lost a lot looking too much shorting and looking for x1000 profit projects instead of select the safe and the winners.
@DRAGUNOVFZ, That's the sentiment most should have, and is the correct way of thinking!
Miru84
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Any updates Goldbug? :)
goldbug1
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@Miru84, Just needs to hold the $34 level, it's been testing it for 2 days now!
wpgmantrader
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Thank you for the analysis (as well as your viewpoints). They are ALWAYS appreciated and respected. One of the reasons that I am high on Neo (other than the Chinese connection) is that NEO's speed of transactions is much superior to most all other cryptos because of utilizing "Delegated Byzantine Fault Tolerance".
The fact that Neo can transact so rapidly (in the range of 1000 or so, per second - falling in between the range that of Pay Pal and Visa) definitely sets it apart for me from the rest of the pack. For those that are not sure how the process works, simply google it, grab a cup of coffee and take a few minutes to read up on it. It's definitely an interesting topic and a great reason to be on the "Neo" band wagon.
I'm a newbie on here but i have some things clear:
- I only invest in the coins i REALLY believe
- I want to buy dips and accumulate them to the long term
- I use tradingview only to see better entry points, i really don't give a fuck about stop losses, because if im in, im in, but in the end with a better entry point.
I still don't understand why trade in the cryptocurrency space, almost every good project will grow a lot in the long run, why you have to take risk if the reward its that easy to predict? i think you can literally throw
100k$ in the best top10 coins and forget about it and you will do better than trading, or at least i think that, i just like to research just to do a more worth movement, but we will all win in the long run, i think a lot of people just will lost a lot looking too much shorting and looking for x1000 profit projects instead of select the safe and the winners.