Short position for target 0.00445 and further target of 0.00390.
Fundamental:
1. Look at the BTC fork. History is going to similarly happen. Till the day the fork happens, the alts like NEO, OMG will continue to fall. Money will flow to BTC.
2. No news from China as of yet, so this remains iffy.
Technicals:
1. RSI has been on the declining trend.
2. The support of 0.00445 does not seem likely to hold. Price as of right now is like a glass at the tip of the edge, waiting to tumble over.
3. Low volumes for previous mini rallies and constant low volume for the rest of the candles for past few days.
** I will be tempted to put in money at the 0.0039 to 0.004 range. Very tempted. Will look again at the price on 13th nov.
Fundamental:
1. Look at the BTC fork. History is going to similarly happen. Till the day the fork happens, the alts like NEO, OMG will continue to fall. Money will flow to BTC.
2. No news from China as of yet, so this remains iffy.
Technicals:
1. RSI has been on the declining trend.
2. The support of 0.00445 does not seem likely to hold. Price as of right now is like a glass at the tip of the edge, waiting to tumble over.
3. Low volumes for previous mini rallies and constant low volume for the rest of the candles for past few days.
** I will be tempted to put in money at the 0.0039 to 0.004 range. Very tempted. Will look again at the price on 13th nov.
If prices drop further or remain depressed, I might look at longing NEO in the shorter horizon and also if the RSI on BTC 4 hour chart reaches around 80.