NEO coin sideways with possible SHORT before Breakout LONG

17 de out. de 2017

'NEO' Coin is still sideways in a corrective move, and is now at a critical point. If price action breaks the lower (yellow) trendline, there is a high probability that price will continue to drop until the bottom support line. That will most likely depend on the latest China Congress Elections this week and next, regarding cryptocurrency in China. If positive steps are made, we should see 'NEO' Coin move upwards to break the (Blue) trendline. However if there is negative decisions made regarding cryptocurrency, then we could see big SHORT to the bottom support. In my opinion, at current price and analysis, 'TDI' shows 'RSI' in a Sharkfin with blood in the water forming, signifying another BEARISH move before more sideways action until the China congress elections.

Source: cointelegraph.com/news/chinese-ico-ban-may-end-after-oct-18-with-communist-congress-elections

In my opinion, 'NEO' is a BUY "IF" price breaks out from the blue trendline. If not, we will most likely see a short before additional analysis is needed.

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This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.

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