SUMMARY
NEO needs the buyers to come in and start buying ASAP! It has an overhanging bearish threat as shown in the second chart. Given a near 10 consecutive down days, there will be a bounce....but it needs to be susainable and trend reversing! However, since Bitcoin has been delivering some good volume and a bounce; the below chart shows the best possible bullish scenario with the ABC correction complete and an impulse of blue waves has begun to the point that blue 1 is complete and 2 is in progress and nearly complete as well. The white abc shows that 2 could be in its terminal end. In order for the blue 3 to start charging upwards, we need the buyers to appear now.
Given how the price has been moving sideways, the correction can also be labeled with WXY (blue). IF so, then Y is not even close to being complete. IF this is correct, the lower end target is at around $40 as shown by the white arrow pathway. I've been watching this for some time and wanted to bring into the blog readers' awareness. In order to avoid this scenario, price needs to start charging towards the upper white trend line and decisively breach it.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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