- NEO is one of the leading projects in the Dev Tools / Smart Contracts sector. This sector should continue to perform well in 2018 as it did in 2017 as is a foundational use of blockchain (building blocks).
- NEO has 27 ICO's coming to its platform in 2018 (https://www.reddit.com/r/NEO/comments/7lcsam/neo_has_27_icos_coming_to_its_platform_here_is_a/). ETH performed exceptionally well in 2017 of the back of its ICO action
- NEO is the platform of choice for Asia
- NEO is at an All Time High against BTC and its has been over-brought for some time. If BTC finds its stride we could see some drops in this pair. There has been a 6000% plus increase since April 2017
- NEO is about 20% of All Time High against USDT with a 1500% increase in past year.
- On USDT 8 hour chart NEO is on the end of a short-term 60% increase and seems to be loosing steam ( dipping down after hitting the 70). Future cloud is red. Price should drop down before building again. The cloud from Feb 1st to 7th is straight and should act as a strong support if price falls to that level (140 USDT). This is also the fib .5 level of the This would be a good buy level.
- Red horizontal lines show the areas of confluence between fib extensions from the recent high/lows. Will be looking to see how the price respects these levels and treat them as potential buy levels.
Summary: FA is very strong, TA performance has been very strong against USDT and BTC in past 9 months - . The charts have been over-brought for some time but show no signs of reversal. I will be looking for buy opportunities on the 4 hour and 8 hour.
"Luck is what happens when preparation meets opportunity" Seneca
This is not investment advice.
Comments always welcomed below.