If you look at the chart below, you'll notice a huge wedge pattern forming in NEO. You can find the start of the wedge beginning back in August, which means it has potential for a massive break out. But, I'm not writing this post just because some ole wedge pattern is forming, wedges form all the time. This wedge however, happens to be forming at a crucial time. Take your mouse and count how many days are left before this break out will occur.
Find anything interesting about the date?
It's possible the breakout will occur around November 18th. Ringing any bells now?
The SegWit2x fork is happening around the same time as NEO squeezes tighter and tighter into this wedge. So, as people start taking profits out of Bitcoin, there gonna be looking for altcoins to trade. Why wouldn't they dump their money into a top altcoin forming a huge wedge pattern?
Hmm. Think about it for a minute and let me know your thoughts.
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STOPThanks for information
Your welcome!
It also looks like it is forming a had and shoulder pattern. It might be the end of this down trend movement. It is also getting pressed between the EMA20 and the support line...
Good insight! I didn't notice it before but I do see the inverted head and shoulders forming. If it breaks the neck line then we could see a test back at the downward trend line.
Looks like a downward trend to me
It's definitely a downward trend but it's caught support more than once at this level. Everything trends a certain way until it doesn't. The key is to see the trend change before it does