NEO bearish divergence + death cross ==> further drop

NEO has bounced well. This should have been expected due to the bearish swing failure + bullish divergence all the way from mid-March to early April.

However, even when it entered & stayed in the oversold territory, a good entry point was not established until a week ago. This just shows that momentum indicators can be leading by too wide a margin.

At the moment, we have the exact opposite: bullish swing failure (almost, perhaps not confirmed) + bearish divergence.

It does look like NEO has lost its lustre from 2017 in terms of outgunning the market. It's still a good investment with good entry, but 100x is unlikely.

I expect $70-75 to be heavy resistance (50 / 200D MA). Death cross is incoming.

Very likely we'll see a double top forming around $70 with neckline around $60. This will send NEO back down to at least $50.

We can then assess whether it's a double bottom or further drop .
評論: forgot to draw the lines but should be ok with the texts
評論: going up for the potential double top now

will verge exit?
How do you think, is it related to upcoming NEX ICO? Probably NEO founders is interested in low neo pricess now, to get more NEO for NEX tokens
+1 回覆
yeah i think 50 bottom for neo doc
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