There's is a massive sell wall on neo at the ATL And the buy wall has shrunk down far too much. We've had a huge rise up these past few days sona correction was going to happen sooner or later. Personally I'm expecting the coin to drop all the way down to .0082 and then we can see a pick up again. However I don't see the coin continuing this huge uptrend while that sell wall is still as big as it is. I think this is a great opportunity to sell at the atl and then buy back in once it dips again.
So far everything I've logically expected NEO to do, it has done the exact opposite. While I do agree we will have to hit a bottom after this price surge although I don't expect that to happen until after the latest conference/dev meetup.
Also I think you're price point of 0.0082 is correct. I don't think we'll see neo goin <0.007999999BTC again.
Good to hear what other people think. I hope what you saying is true. I see most people saying it won't go under 0.008btc. I personally have a bit more conservative buy order at 0.00711011. I compare this dip to the dip in june after the price exploded where i got burned in the slow and painfull selloff.
The highest red line (0.00681400) is where I guess the support will be. It's a copy of the breakout in june but scaled accordingly. So 0.00711011 to be in front of the bulls.
I'm a very new trader so I might be completely wrong but I really want to take this serious. Just sharing my thoughts and observation as I would like to hear yours. :)
Although your right about there being a big buy wall at .00711 you also have to check and see how big of a buy wall is at .0082 and price points above that, personally I don't see it hitting .0071. I think .0085 is a better bet truthfully. Quick heads up seeing as your a new trader you don't have to buy at the lowest possible point and then sell at the highest possible point, that's impossible. Rather find a nice price point which will still be a good gain.
appreciate your feedback man :) on bittrex a new bottom might have formed at 0.0078btc. So I was a bit too conservative. I am still a little bit scared it might drop lower because i got burned with the last antshares pump in june. it kept going down for a few weeks after the pump. I will just hold what i have for now.