NeosCoin (NEOSUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, NeosCoin began a wave one advance in December 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished in August 2016, and the red wave two correction ended in January this year. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 30, and the red wave four (blue sub-waves a-b-c) correction ended on October 24. If this wave count is correct, NeosCoin should be heading next towards the June 30 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
NeosCoin is a competitor to Steemit. Here is a 30 minute introduction video explaining the coin.
Neos v3.0 Preview from Syn Taks on Vimeo.
(Source: http://www.getneos.com/)
If you think this analysis is correct, upvote this post and upvote the comment "NeosCoin will takeout the June 30 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "NeosCoin will drop below the October 24 low".
If you think NeosCoin is in a range, upvote this post and upvote the comment "NeosCoin will stay in a trading range between the October 24 low and the June 30 peak until January 10, 2018".
You can upvote the comment until 3 PM EST December 11 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
