NEO/BTC - NEO Descending Wedge Watching for Potential Reversal

Sep 2, 2017

NEO is still within the descending wedge (we've been tracking this closely for days now through the Alerts Group). Last chance for the bulls to reverse this here by breaking out ASAP and forming the blue Inverted H&S to confirm a bull reversal to the trend.

If the bull scenario does fail to materialize, expect a wash down back to support at 0.003-0.0025 area

Still waiting for a clear direction.

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Sep 2, 2017

Trade active

Addendum:

The main chart is missing the neckline used as a stop loss.

Sep 4, 2017

Note

Following the ICO ban by the Chinese Government, NEO finally gave in and broke down with most of the Altcoins, Tokens, Ethereum, QTUM and EOS:

Oct 3, 2017

Note

Apologies for not updating this chart.
Based on the latest news that NEO council members will have 30% of NEO available for spending (selling or holding), were giving a higher probability to the bearish H&S to play out:

Oct 4, 2017

Note

I was informed that the 30% NEO available to the council could not be sent and sold on the exchanges per the white paper. So please disregard my claim earlier that the bear scenario has higher probability.

I believe bulls got this and we will revisit 0.01

Oct 4, 2017

Note

nevermind, stoploss reached after the bottom bull neckline broke. Bearish H&S in play. Seems lots of fear of Bitcoin Bear Market at the moment pushing lots of traders to take profit asap on tokens, and alts.

Oct 8, 2017

Note

Neo what will it be?

Oct 13, 2017

Note

Bearish H&S played out beautifully, we took profit at 0.007 rebought at support at 0.0048