NEO/USD Could Get a Buy Signal while NEO/BTC corrects.
SUMMARY
NEO's daily MACD is turning up! This coudl lead to a Bullish Cross and a buy signal...it has NOT happened yet. The chart below illustrates a broadening pattern and IF the buy signal is given, then price is likely to race and touch the upper blue line. The lower blue line has to hold as support.
The NEO/BTC has recently completed a five wave impulse upwards (white) and is not either correcting in an abc (red) or coudl morph into a triangle pattern. The MACD seems to concur to this direction...corrective. The prior abc correction after the blue wave impulse was quite long and elongated and sideways which still counted well as an abc. Likely, the current correction could be longer than expected...in other words, more sideways action.
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Thanks as ever for the chart work. I have been keeping a close eye on Neo and I actually decided to jump the gun on the signal and went shopping over the weekend. The decision was to some extent based off the charts and about the upcoming developers conference happening in San Francisco this week. I, as many are hoping to hear about some interesting developments from the core developers in addition to the likes of NEX and QLink etc, however I think that the most exciting thing that may happen will be if they do a demonstration of the Trinity prototype. Neo is already a trail blazer in my opinion but the possibilities of what can be achieved if Trinity lives up expectation could be mind blowing. Anyway only time will tell.....untill then I will keep on hoping that I did not jump the gun, keep my eyes on the charts and keep a specific look out for yours. Cheers J
Now compare here.who is best.one expert @salahuddin2004 gave a buy signal on neo at $100 and this haejin after 10 days recommend neo at $153.
https://steemit.com/neo/@salahuddin2004/neo-will-hit-usd225-before-16-march-2018
Reality is Reality.
Thanks for the link, I actually did pick some up around then, as I have said I am pretty keen on Neo (and a few of its associates particularly Trinity and Deep Brain Chain) and to reiterate I am super excited to see what comes out of the conference. If you are interested there will be some live stream Q&A sessions with many of the people who are presenting at the conference I think that one of them will be CryptoBud (presumable on his Youtube channel). I will check out Salahuddin to see if he has any more charts that may be of interest. Cheers J
OMG, you're so full of shit!
August 2017 - $17 bullish predictions when NEO was still called Antshares
https://steemit.com/bitcoin/@haejin/antshares-ans-crawling-up-wave-iii
https://steemit.com/katythomson/@haejin/neo-wow-a-near-100-surge-from-where-i-called-it-at-usd17-here-is-the-proof
September 2017 - $19 to $120 target (after NEO hit $50+ and was on its knees in the correction)
https://steemit.com/bitcoin/@haejin/neo-update-target-usd120
September 2017 - laddering buy strategies
https://steemit.com/bitcoin/@haejin/neo-behold-the-mother-of-all-cup-and-handle-bullish-pattern
November 2017 - $26 to 63 target
https://steemit.com/bitcoin/@haejin/neo-target-usd63-85-139-profit-potential
December 2017 - $56 - $117 target
https://steemit.com/bitcoin/@haejin/neo-short-term-target-usd60-mid-term-target-usd117
January 2018 (16 days ago) - $178 – $293 target (and $1,179)
https://steemit.com/dtube/@haejin/a3ozxhhu
Excellent insight. I'll need to dig into the Trinity prototype. They are definitely a trailblazer. I watched a Dtube video you may want to check out from the Korean conference two weeks ago. He was incredible and his explanation of why they have both NEO and GAS was great. I wonder if they will blaze a path that catches on globally. Is also interesting on his discussion on why its not decentralized.
Check out the conference speech:
Hey morseke1 thanks for the link, I will check it out as soon as I have finished what I am up to at the moment. Let hope that it does indeed catch on. Cheers J
Genial
Haejin, I think your viewers might benefit from a more step-by-step description of what each of these charts suggest. Let's open up a conversation.
The NEO/USD chart seems to contradict the NEO/BTC chart i.e. the MACD suggests there will be a bullish cross soon for NEO/USD while, on the other hand, the MACD suggests a bearish cross has already occured for NEO/BTC.
What does this mean?
For me, this analysis could mean 2 things.
The demand for NEO will increase in the coming weeks (causing NEO/USD to rise), but will be outstripped by the demand for BTC (causing NEO/BTC to fall). This goes along with the current price action we are seeing in BTC that many are saying will push BTC to 14k.
Because the MACD for NEO/USD is curling up but is yet to cross, there is the possibility that the cross does not actually occur and demand for NEO continues to fall (pushing NEO/USD lower...not immediately but over the coming weeks). This scenario also allows for BTC to 14k and agrees with the NEO/BTC chart. This seems more likely to me, considering NEO looks to have just finished an impulse of intermediate scale and could be mid-B wave of the corrective retracement. I've offered my analysis for the short-term below. This scenario could gain credence if the total crypto market cap follows the head and shoulders pattern that you suggested in a post earlier today.
In conclusion, if Haejin's analysis proves to be correct, now may be a good time to ladder in and get ready for the ride. However, I have greater reason to be cautious at the moment, and think now may not be the right time.
Of course, I am very new to all of this and still learning, so I welcome anyone to join in on the conversation and point out where I missed something. Heck, I may be completely wrong. But in the end, no one knows exactly where the charts will take us next. Only time will tell(:
Great discussion of "what does this mean". You may be able to carve out a niche by doing this for all of haejin's posts...
I think it is good to keep yourself accountable in this game of TA so that we can really see if we are on the right track or not.
According to the short-term outlook I proposed 9 longggg days ago, NEO looked to top out around $160 and proceed with the correctionary wave C. Indeed, this is what seems to have happened, with a top of $169 and (tentative) bottom at $63, a precision hit on the 0.236 fib retracement from the rally starting mid-november. (see updated chart)
Although my price prediction seems to have been correct, the reasoning I gave was almost completely wrong! The MACD did end up scraping but not crossing. However, BTC did not go to 14k as I was assuming...it actually went to 6k!! Very humbling indeed!
So where does NEO go from here? Could this be the start of the B wave of a 3, 5, 3 correction? Maybe. Is the correction already all done? Possibly, but that means it would have completed unusually fast. Then again, crypto is usually unusual! And that's why it's exciting! So let's see where the price takes us next(:
The contradiction seems because the NEO/USD has only variable (demand for the coin) while the NEO/BTC has two variables (demand for the coin plus change rate of BTC). IF BTC declines, to a certain degree the NEO/BTC rises and vice versa. The analysis shows NEO/USD could rise along with BTC.
NEO will still hit the 0.028 BTC target after a few months sideways...Hurry up and Keep Calm...Patience is Key :)
FIRST!!
这才是好帖子
Target of NEO for next week is 180$.. I think so because NEO increase
And sw at 180$
Every time i see the word MACD i want mac and cheese lol but anyway, yeah I need to start staking NEO and get some gas!
Better than McDonalds!
Interesting
Looks like I need stock up on some NEO. I was holding off but I haven't found the right time to buy. But I do want the daily GAS for holding NEO. This should be one of my top trades.