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...
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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(: