SUMMARY
NEO has experienced a meteoric rise since last Summer. The impulse waves show that a requisite correction is in progress and that a,b,c could mean that the bottom line of the broadening triangle needs to hold as support. Would it be feasible for the support to hold if Bitcoin declines to $8k? Likely not. The two horizontal lines represent the potential landing zones towards which five waves can be placed. However, until the support is decisively breached, jumping the gun might not be the first reaction to take.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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