I've spent the last week or so day trading NEO to trial out a new indicator combination I was using (Stochastic + Weighted Moving Average), and, with the NEO developer meet up today have been very anxiously waiting this moment to see how it would influence the NEO price. Shortly after the conference NEO climbed a bit, followed by a semi-steep drop, and now a recovery.
What's interesting about this recovery is that NEO is showing resistance to dropping back below the 0.0075BTC mark, and, if you correlate the current trends with previous NEO trends, we can see a similar pattern when the NEO price rises, only to find a new, but higher bottom than before. It is my guess, that we have found it at 0.0075BTC or $25USD. Granted this is significantly higher than it's previous price before the latest run, but analysis, coupled with my gut instinct, tells me that we've found a new bottom at $25USD or 0.0075BTC.
What do you think, I'd love to hear your thoughts.
If you found this post useful, or interesting, a follow, repost, or upvote would be appreciated as it helps me to continue generating quality content. Thanks and take care!
