NEOUSD purge in progress?
NEO / Dollar BITFINEX:NEOUSD
I have been saying this long time ago, the lockup in crypto is that everybody is long and holding. Referring to Rodrigue charts, public must be purged at some point for the market to resume its trend. So new lows in NEOUSD and outlook of other altcoin could be proving the point here.
Problem is where will it stop? I don't have the answer and any level proposed now would be daily levels now (so let me tell you, stop is 0.00 meaning that there is no real trading for NEOUSD but rather investing if you believe in the crypto). Personally, NEOUSD is off the book for some time until we get some bullish structure in the 4h at minima.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
No update for next 2 weeks due to on and off the desk period
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