I'm kinda bummed because I bought in NEO at around 45$ and I've been holding it for like 2 weeks now. I can analyze a market but I can only analyze it enough for short term trades.
Is there anyone that can let me know if we will see a reversal for a long term up trend? I've been noticing a lot of buying pressure on NEO lately but the market is overall is pretty bearish for NEO. I'm just hoping that it can get to atleast 50$ for me to sell. I think I will be waiting a while because NEO jumped from 17$ to 55$ in like 3 days, so we are in the middle of a sell off right now.
Thanks for reading and if you can give me your opinion on NEO's price for the next week or so that would be great.
Seems to be a solid play. Don't think two weeks or two months but two years. Buy the dips.
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FOMO trade, my mistake lol
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Upvoted and followed.
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Bought at $44 and not planning to sell. NEO had a huge spike, tons of hype and people are now waiting how this hype will play out.
You can only go as big with the hype, it's time for NEO to start showing use cases and when it hopefully does I expect it spiking as big as Etheruem did back in the day.
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Why did you buy at $45? FOMO? Neo is a strong product and could hit ethereum levels, especially by the end of this year. That's my opinion and many crypto guys I trust. But you're right the current chart is a little bearish.. although it has been holding resistance very well! I swing trade a fair bit but I never traded neo and I'm not going to (unless it gets a ridiculous run and I buy back lower). I wouldn't sell at a loss, especially since you bought at that price. I can't see it going below $35 again but that's just me. I would encourage you to look up DataDash and Node Investor on youtube.. they are good chart readers and I trust their analysis.
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thank you for the feedback, and yes this is the first time i FOMO traded and that never ends well. I won't sell at a loss, im willing to wait to sell at a profit.
I just have to remember to stop FOMO trading, usually ends up at a loss.
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You'll be fine on NEO..this drop might be a good buying op :)
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Great time to average down! It'll break trend with some news. Just hodl.
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Is this a trade or an investment? Are you looking at this for a few weeks/months or years?
If you are looking at it long term, then dont worry about it if you are bullish on the long term potential of NEO. Long term plays tend to have less importance on entry.
That said, if this is a trade, the question is why did you buy when you did? What were the criteria that you used for entry? Do the conditions still exist that were present upon entry? The key with trades is to have an exit in mind before you enter the trade. This helps to remove the emotion from trading which is totally necessary.
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I already have 3 long term investments in crypto, im just day trading as a hobby on the side. the problem was that I FOMO traded and didn't use any rationality when i entered the position, i had like 6 good trades before that so i got kinda cocky i guess
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Don't let your pride get in the way of common sense. You should sell and take a minor loss if you want to keep trading and learning or hang on for long term and don't follow it day by day. Up to you. The ups and downs shake out the weak hands. A lot of people regret selling bitcoin even if they sold at one of the highs it achieved along the way before this August. Buy and hold seems to be best for crypto and you are young enough to wait it out. Just build a diversified portfolio. I'm not sure if generating earnings through day trading crypto is possible in the long run. It's a lot like gambling the longer you are playing at the table the more the odds favor the house. Too many unknowns.
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just gonna hang on for now
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This post received a 2% upvote from @randowhale thanks to @cryptotraderx! For more information, click here!
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by cryptotraderx from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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