Hi everyone!
Today I prepared a technical analysis of NEO market for you.
A trend that was formed over a month ago brought more than 100% profit to those who held this coin. That was a very profitable investment. But now price stands and begs the questions: what to do next? Will the price make x3? Or such a stop means readiness for change of trend?
Let's analyze the daily graph.
The coin showed strong growth on the New Year's Eve. It managed to approach its previous maximum position by 3 waves. Every next rising wave was more impulsive (look at the waves' direction). The 4th wave was weaker and pullback waves, on the contrary, were stronger. Buyers were exhausted. Also, pay attention to trading volumes. They become lower, which points to price consolidation.
This situation is very similar to the events in last August. But in August 2017 sales were supported by the market at once: activity was pretty high during the price falling.
On the basis of such a situation, I suggest:
1) Close positions when reaching the price 0,0115 in case of growth of sales activity.
2) Enter the market in case of reaching the price 0,0145 and increased sales activity.
Put likes, subscribe and ask your questions if you like such analytical reviews.
Thank you!
Today I prepared a technical analysis of NEO market for you.
A trend that was formed over a month ago brought more than 100% profit to those who held this coin. That was a very profitable investment. But now price stands and begs the questions: what to do next? Will the price make x3? Or such a stop means readiness for change of trend?
Let's analyze the daily graph.
The coin showed strong growth on the New Year's Eve. It managed to approach its previous maximum position by 3 waves. Every next rising wave was more impulsive (look at the waves' direction). The 4th wave was weaker and pullback waves, on the contrary, were stronger. Buyers were exhausted. Also, pay attention to trading volumes. They become lower, which points to price consolidation.
This situation is very similar to the events in last August. But in August 2017 sales were supported by the market at once: activity was pretty high during the price falling.
On the basis of such a situation, I suggest:
1) Close positions when reaching the price 0,0115 in case of growth of sales activity.
2) Enter the market in case of reaching the price 0,0145 and increased sales activity.
Put likes, subscribe and ask your questions if you like such analytical reviews.
Thank you!