SUMMARY
NEO will be affected by Bitcoins trend change from Up to Down. To that end, I present price pathways using Elliott Waves and Chart Patterns. The destination wave 2 (blue) destination is same but the pathway could vary. The counts used could be a simple abc (red) or an expanded abc (red), similar to Bitcoin's but the destination towards $17 will be about same. This $17 destination will be with Bitcoin's downdraft towards its Wave C at around $2,000 or so. Please view the video for much more details that could tie it in better.
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Legal Mumbo Jumbo: 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.**
I was remembering this now old post, and I see NEO has hit the support trend line. So as an exercise I draw the last (a)(b)(c) so that (b) fits the new data. This would mean either a rebound on the support trend line o continuing down to the next support around 16, right?
IF the support holds, then the white labels are mine and expect an impulse of five waves up.
Thanks for taking the time to answer! Doing is the best way to learn.
IF the support holds, the white labels are mine:
Is your target still 44, or are you feeling like the chances support could break are higher now?
Yes, I'm feeling that once Bitcoin turns down, the concern more becomes a mass exit.
double top confirmed? looks very similar to me
I don't think NEO has a double top.
I agree with bonf, it does look like a double top, and if anything is going to make a right shoulder around $33 to a this double top/heads. The second head is slighter lower than the first, my guess is the right shoulder will also be lower than the left too.
@dragononcrypro, i see that too. maybe it is not dbl top like haejin says, but it seems like it will have the same effect: massive price drop (?)
@haejin, i dont understand why not
edit: maybe its not dbl top....
@haejin, in your response do u mean "yes the target is $44" or "yes the support will break" ?
Blood flows on almost every crypto now, and it won't stop until bitcoin fork
Bitcoin news here
recently we have been seeing some green, but market is not positive enough. i guess we all have to wait and accumulate more now
Great lesson, thanks @haejin
thanks
Great stuff..thanks haejin!!
What is your EW count of FLiK (FLIK) ?
Thank you!