Neo has been compared to one of the biggest cyrpto in the market right now; Ethereum. This gives NEO a lot of value and expectations to live up to. Because of this, if NEO is low, many investors and traders, will find it to be a great opportunity to buy NEO at a low price. NEOBTC is now falling down back into the 61.8 fibs level, which sits right on previous resistance. What are your thoughts?
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Why didn't you draw your downward TL from the second peak (instead of ath)? Looks more accurate, doesn't have to go through that wick there.
AbdorhmanThi
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@whoisthelorax, It is part of my trading plan to use the ath peak, unless it is a big wick, then I use the body. But price is currently respecting this line. We are just waiting for a breakout and a consolidation above the line. Where are you looking to buy?
hcolmenarescz
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I think if BTC lateralizes a time in the price of 4600 - 5000 $, NEO may have the possibility to return to 40USDT and break the flag upwards
AbdorhmanThi
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@hcolmenarescz, it is a matter of time. Chances of NEO breaking 40 USDT is quite high.
BiT73x
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Not sure if it will go that low. Then again Im partial towards Neo and hoping it wont go that far.
Maybe 0.061 for now, but not lower. There is a lot of news and icos on Neo and I think what happening now is a lot of ppl investing and accumulating this one.
Mid Sept Neo will be a lot more worth, so Ima say Hodl and accumulate ,even tho its dropping and we could rebuy.
AbdorhmanThi
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@BiT73x, Yeah definitely. NEO long term will generate profit at such low price. There is a good chance it will get to the 61.8, as many time this level is reach on all markets. Thank you for sharing your thoughts!
Jemil
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My thoughts? I think NEO is going to be stronger than ETH. Might be wrong but it looks more organized, better design. But I am not proficient enough to make a tech review. Right now NEO is undervalued, but is understandable... everyone's drooling on bitcoin's flight.