NEO BTC UPDATE

4 янв. 2018 г.

Technicals (chart pattern): Instead of breaking the resistance, price seems to be forming a double top pattern. Only if we get confirmation and full formation of the pattern ( the 4th leg of the letter 'M' touching the lower red line) we could go through a new downtrend back to former support levels (in this situation, we would have to take volume into consideration for further confirmation) . But, if price is able to find support at the upper red line the pattern wouldn't be fully formed, thus not indicating the downtrend.

Fundamentals: Later today (04/01) the CEO of NEO is participating in a live streamed ceremony to discuss a collaboration between NEO, Elastos and Bittmain; The hype of this might have altready affected the price, meaning that depending on how the discussion goes, it can lead to frustration and further drops or more hype sustaining a new pump.