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Comment:
Neo will need quite a bit more volume to push it through the cloud resistance, if that doesn't happen, I see a quick downward trend on a short to .0063
Comment:
Neo is now forming quite the nice bull flag. it's failing to break cloud resistance on 30m, expect another bounce around the .618 fib then a possible run upwards.
Comment:
Neo dropped high into the buy zone then had difficulty breaking .5 fib/cloud resistance. In both 30m and 1hr, RSI is overbought with cloud resistance. I'm still expecting price to hit .618fib territory, maybe lower before reversing trend. If BTC dumps as intended, this could negate the flag altogether as many alts, including Neo will likely bleed and lose volume.
Comment:
Priceline has hit target of .618. I think it's a relatively safe entry, but BTC's likely downtrend might put NEO closer to 630 before or even 620 at fib .786. Consolidation is also a strong possibility, If you haven't bought yet, watch closely. If you have, a rebound is expected by the end of this flag.