SUMMARY
NEO price action has not shown any signs yet of a trend reversal. However, the correction can be counted in a couple different ways. The below chart shows an ABC with the subwaves of C almost in place with wave 5 currently in progress. Does this assure a correction bottom? Unfortunately, no; primarily because the tendency to sideways extend can't be underestimated.
The second pattern is one that would allow a few more weeks of time and price extension. The ABCDE triangle fits well into allowing a good amount more of sideways action. The MACD is also looking oversold but likely to follow the up and down of the upcoming waves X and Z.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Check this game out, look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game has passed the crypto kitties game on the Dapp Radar. The smart contract is coded to tax 10% of the ETH. when users purchase the (P)roof (O)f (W)eak (H)ands tokens and divides the ETH. tax to people who are already holding and also 10% of when users sell “20% total”. The name of the game is to hold as long as you can while you get earnings from the constantly taxed “Strong hand” buys and the taxed “weak hand” sells. If you don’t want to play anymore, you can pull out all your earnings all at once but with a 10% tax fee that gets divided to the stronger hands. This is what the ERC-20 smart contract is programed to do. Doesn’t hurt to look at the contracts open source code at least, don’t let the opportunity pass you by.
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e
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You're FOMOing and it's a ponzi but i will take a look ...
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Thanks Haejin, NEO has always been on my list of Alt coins to buy but I've never owned it, perhaps I'll keep an eye on this correction
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What do you think about this analysis?
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Read this post while drink a glass of cooffe in this morning.
No coffe no steemit
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You should stop drinking coffee!!!
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I can't stop drinking coffee because I smoke friend.
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thanks, happy today
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