Episode Highlights:
- 00:03 – Neo Will Breakout Shortly
- 02:11 – Neo One-Hour Chart
- 02:47 – Neo 5-Minute Chart
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Transcription:
Hey, what’s up, guys? It’s Dan again from cryptoCamacho.com
00:03 – NEO WILL BREAKOUT SHORTLY
And I wanted to make a quick video because I think NEO is about to break out at least in the short term. Let’s jump over the chart and I’ll show you exactly what I’m talking about guys alright. So, this is an NEO/BTC Bitcoin pairing on Binance. And so, if you’re looking at this chart this is a view of the chart from you know all of NEO, this is all of NEO chart right. And you see it was started back here, back in August of 2017 price went way up, the price then drop down and parabolic went up in December. So, we got this kind of parabolic effect right here and then we see the top and it’s going down, down, down, down, down, down, down, down till it is right here today, and that’s because the market has just been down in general over all right. So, if you see the parabolic effect right. You see the top was here and then we slowly decline on all three of these highs right there, right there, and right there. And then we go all the way to the bottom right. And the same thing happens on the bottom. There’s bottom, there’s a bottom, there’s a bottom and basically, that’s the channel right. So, that’s the channel going down and then we see a reversal in August, channels start going all the way back up, goes to the top, goes up a little more and then it just can’t seem to get more support. So, it starts going down right. And the channel really just starts going down from here and we’ve kind of entered this phase. Now we’re either going to see another downtrend go past this right. If there is another downtrend, it will likely go below this mark right here end up somewhere about right here. And then start kind of going up right there, right. But right now we don’t know, because there’s been recently a surge in the price of NEO up here slightly below the last one right. But it looks like we are turning the corner to go into another parabolic upswing for NEO see right. So, I can see this being the same as we saw last year with this big circle right here. NEO seems to travel this way and these big kinds of parabolic dips or bowls right. About snowboarding, this would be a bowl and it seems to go that way. So, we kind of see this starting to happen here and we could probably see something like this happen, and we may see it go wait whoa we go way up higher than the last high, which was over here right.
02:11 – NEO ONE-HOUR CHART
Now let’s break this down in the short term right. So, if you break it down into one-hour charts. And let’s just zoom out, just a little bit here. So, we see that again the price in order to really break out, it needs to go over this top area of resistance right here, to really break out in the short term. We’re seeing another one of those little parabolic moves right here. And I can see this going up a little bit higher maybe to around right here, and before going back down it could completely change turn the corner and keep going up that’s a possibility.
02:47 – NEO 5-MINUTE CHART
But now I want to go down into the 5-minute charts, because I want to show you just a few things here. So, look let me delete that let me go here all right. So, I got in this morning about let’s see about down right here right. So, I did see it up and it got down, up again and it’s going back down. And I’m going to see how you’re seeing this parabolic you know play out again right. But this time it’s kind of going on the upward trend right. And so if you’re bullish on NEO, you’re going to see that there was a downtick 1, 2, 3, 4 maybe just 3 right 3 completely downticks right. And then we see that it starts turning a corner right here’s the uptick right here. So, we see one high right here, and that’s where the resistance is. Then it gets a little lower, a little lower which means that the resistance is getting stronger, support is waning and the price is dropping right. Then you see it kind of start evening out and now today you actually saw it go above the last low level of support. It actually broke that it broke that resistance. And so, now we’re seeing an uptrend. So, we can see likely another one of these to happen you know maybe something kind of like this. I can see this going all the way up till either first up until here alright. And I’ll make that a different color for you. We’ll make that yellow all the way right here, or you’re going to see the top and you make another one here up here right. So, as this continues to go up, you’re likely going to see this go up until…so, the last peak went up to here and that was the level of resistance, your necks going to see go up to this circle right here. It’ll likely do something like this, and then it will retrace down from there, and then it could even go up to here and retrace down again. And then if it gets really bullish, it can actually break out here right. So, I am seeing definitely a bullish trend with NEO right now in the short term. So, if you guys are bullish on this, I can see you getting a…if you get in now you probably can get upwards of like a 3-6% gain. Again this is not financial advice, ask your CPA, your lawyer, or your crypto Pro on what the best thing to do is here, but I’m giving you my advice. I think this is a short-term play. I’m going to get in; I’m going to get out and the next probably 1-3 three days depending on how this plays out. It may take a little bit longer than that, may take a couple more days, but that’s how I’m playing this guy’s and I’ll let you know how it turns out. Hopefully that’s helpful? And I’m Dan from cryptoCamacho.com if you want to get updates, then you just subscribe to that little red button right there, right below my video. See you guys, talk to you next time.
