NEO potential breakout - IF it passes this test...
In these bearish times, NEO has weathered the FUD storm with exceptional grace, stability and even prosperity.
2-month old articles being re-posted by traditional financial institutions and journalists who want nothing more than to see Cryptocurrency collapse - Fear mongering and overreactions to misinterpreted information has seen BTC sharply decline over the past few weeks, taking with it the alt-coins (even the best of them, such as BNTY, DBC and XBY) who simply couldn't sustain the decrease of market capital.
And now NEO enters a crossroad - Pass this test, and I predict NEO to go well beyond 200USD by Mid-March. NEO DevCon is currently underway, with some of the most innovative ICO's on the NEO network showcasing their stuff. Perhaps it is this optimism and it's advanced tech that is keeping NEO up there and putting it on the crypto map as the potential saviour to BTC's slow network and high fees.
Analysis: If NEO can test the lower 0.382 Fibonacci bound and return to the 0.5 point and beyond, I predict the decline will be no more - oscillation between 0.5 and 0.618 Fib level towards the BUY ZONE point shown in the graph indicates a PASS for NEO. IF the lower 0.382 Fib level is not returned to after NEO hits the top 0.618, I would recommend a large buy.
Breakout beyond 0.786 and even a return to 1 is very possible if the above conditions are met. I recommend watching for the next few days to see NEO's movements. DO not buy above the buy point, you'll regret it
2-month old articles being re-posted by traditional financial institutions and journalists who want nothing more than to see Cryptocurrency collapse - Fear mongering and overreactions to misinterpreted information has seen BTC sharply decline over the past few weeks, taking with it the alt-coins (even the best of them, such as BNTY, DBC and XBY) who simply couldn't sustain the decrease of market capital.
And now NEO enters a crossroad - Pass this test, and I predict NEO to go well beyond 200USD by Mid-March. NEO DevCon is currently underway, with some of the most innovative ICO's on the NEO network showcasing their stuff. Perhaps it is this optimism and it's advanced tech that is keeping NEO up there and putting it on the crypto map as the potential saviour to BTC's slow network and high fees.
Analysis: If NEO can test the lower 0.382 Fibonacci bound and return to the 0.5 point and beyond, I predict the decline will be no more - oscillation between 0.5 and 0.618 Fib level towards the BUY ZONE point shown in the graph indicates a PASS for NEO. IF the lower 0.382 Fib level is not returned to after NEO hits the top 0.618, I would recommend a large buy.
Breakout beyond 0.786 and even a return to 1 is very possible if the above conditions are met. I recommend watching for the next few days to see NEO's movements. DO not buy above the buy point, you'll regret it
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