2400 Finally Breaks! (NEO Update) Patience Is Key In This MarketIf NEO can hold a third daily candle above 2400, I think it's fairly reasonable to expect it to finally break out of this ridiculous range. Targets are in the green X's. This is an update from my previous NEOBTC chart, where I suggested that the 2400 resistance was a bit too obvious (and artificially created). This signaled accumulation to me. I've held NEO since 2030 (swapped all my TRX for it a while ago) and have been patiently waiting for this moment. If you look at the links below, you'll see that I called a potential bottom when NEO was still in the $7-8 area. I also suggested that NEO would probably head down towards $5-6 when we failed to stay above $13 last fall.
So far, we're sustaining above 2400 with decent volume. Let's see if we can get a bigger impulse.
BUY SETUP:
2370-2420
Targets:
2600-2700
3000-3100
3500-3600
4600-4700
Obviously, if NEO breaks back down, we can expect another test of the ascending support. If that breaks, we have immediate support near 2150.
This is not financial advice, and I am not giving a recommendation to buy or sell. This is a potential setup I'm seeing, and I'm curious to see how it plays out (for educational purposes only). NEO is currently part of my long term portfolio. Perhaps I will sell a small portion to swing trade, but that's not something I do very often.
-Victor Cobra
