Just when I thought it couldn't get any worse it did. For a couple of hours I thought it might be a crash not a correction. I decided to take a defensive position until we see clear signs of market recovery. NEO has recovered around 50% of its 7 day low. I took a sideline position, changed half my cryptofolio in to USD and plan to trickle my money back in to the cryptoshphere at sensible levels over the next week.
We had positive news about the regulatory talks in the US but what if the European Central Bank decided to ban Bitcoin next week. I am positive about crypto in the long term but I am still going to limit my exposure in the current climate.
NEO has been hovering around the 110 point. I hope to buy back in as low as 96 and sell at 122 though should we see a spree of positive news next week I have buy orders on NEO at just over 100. The higher the price, the lower my orders. The lower the price, my orders are for a higher amount of NEO. 110 is my highest entry point in the last few days.
This is intended as helpful information not financial advice