NEO technical and fundamental update is coming. Stay tuned!

Fundamentally looking, NEO is a great coin. It’s still called Chinese Ethereum with 100+ dAps and the confirmation of their growth is recent Testnet release on June 1st.

It’s definitely not a shit coin and has a working team behind that’s continually working on the project.

Now technically looking, the recent test net release positively affected the price of NEO which we can see on this chart.

After accumulation at around 0.001BTC for few weeks, it spiked up making gain of around 30%.

What next?

Looking at the current price action, since 78.6% Fibonacci held out, we should expect further increase targeting an area of 0.0015 BTC.

Since I always mention invalidation, in this case, I would not like to see continual daily closes below 61.8% Fibonacci. We bounced off that level and now it's expected to continue going up without big retracements.

NEOUSD chart looking good as well. After capitulation that took out every stop loss in the market and reached all the way to the $3, it went for a move up making series of consecutive green weekly candles.

After the big capitulation, we usually see a big move in the opposite direction as well because of that and current price action, I expect to see NEO in red resistance area as an attempt to test out that wick area.

It has chances of breaking above but for now, I see at least test of that area.

It may not happen instantly, we may see some accumulation in the middle of the range that will bring us to that resistance area.

So, NEO is still a good project, the team is still working behind, as a NEO staker I can say that their project is delivering on what was promised.

Could it be better?

Of course, it can because it nowhere near Ethereum and because of that, there’s that big opportunity if one day NEO will come closer to the Ethereum project.

Technically, it’s not in a strong uptrend but rather stuck in the ranges o both pairs I've just mentioned but price action is pointing on each pair to the upside and test of resistance areas.

Hope you like my analysis on NEO. Which coin you want me to analyse next?
anonymous poll

TEZOS – 108
👍👍👍👍👍👍👍 39%

TRON – 72
👍👍👍👍👍 26%

LITECOIN – 69
👍👍👍👍 25%

BITCOIN CASH – 27
👍👍 10%

👥 276 people voted so far.

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Bitcoin transaction fees are back to $1 range after we saw post halving increase to $6.5.

Everything is coming back to normal.

Crypto Fear/Greed Index
Status: Neutral
Value: 54/100

What’s your opinion on Bitcoin?
anonymous poll

I’m bearish – 201
👍👍👍👍👍👍👍 48%

I’m bullish – 157
👍👍👍👍👍 38%

I’m neutral – 60
👍👍 14%

👥 418 people voted so far.

Over the past 12 weeks, Grayscale Investments has raised 62,972 BTC

This amount exceeds half of the coins mined by miners for the same period.

It’s obvious proof that institutional investors are putting their money in Bitcoin and major cryptocurrencies heavily.

Don’t listen to what they are talking, look at what they are doing!

Keep hodling because here's proof that someone is trying to get as much Bitcoin as possible.

This is how both sides of the market get stopped out and price returns to the starting point.

Being profitable as a trader means being in the market when it’s going in your favor and staying out of the market when odds are against you or you don’t have a clear, profitable setup.

Wait for the market to establish a new trend before opening your position instead of randomly opening trades hoping it will work in your favor.

Something weird was spotted yesterday on etherscan.io where 0.58ETH was sent for a transaction fee of 10,668.73185 $ETH ($2,597,729.52).

How’s this possible?

This looks like money laundering where a certain party made a deal with a certain mining pool to broadcast their transaction.

That way, those 10 688 coins would be mined and declared as “legal” because their source would be mining.

What’s even worse, the 2nd transaction with the same source and transaction fees was sent just after the first one.

Is Blockchain technology as decentralised as we were told or there's still a way to "cheat" the system?

With the recent price action, Bitcoin looks like shitcoin with wicks in both directions stopping out both, longs and shorts.

For a hundredth time, wait for the trend to be formed.

What’s your current opinion on Bitcoin?
anonymous poll

I’m long (bullish) – 103
👍👍👍👍👍👍👍 40%

Not in a position (neutral) – 81
👍👍👍👍👍👍 31%

I’m short (bearish) – 74
👍👍👍👍👍 29%

👥 258 people voted so far.

ROI to ALL-TIME HIGHS

The fact is, most of the coins will never reach new all-time high but which coin is the one to reach it and set new highs?

Send me your suggestions to @CryptoSignalsAdmin and I will make a pool to see your opinion.

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What’s your current opinion on Bitcoin?
anonymous poll

I’m long (bullish) – 78
👍👍👍👍👍👍👍 39%

Not in a position (neutral) – 66
👍👍👍👍👍👍 33%

I’m short (bearish) – 56
👍👍👍👍👍 28%

👥 200 people voted so far.

Cryptocurrency market aside, today is a big day for Tesla.

Not only that its shares crossed $1000 mark, but it became the biggest car company in the world.

Bitcoin miners made $366.4 million in revenue during May, despite halving.

Bitcoin is currently inside the range for 6-7 weeks.

In order to get a new dominant trend in the market, we need to see a break from this range.

Once the range accumulation is over, I expect a big move in either direction.

If that will be to the upside, I don’t think it will stop at TP1.

The first real target if it breaks to the upside will be $11 500 and if that’s get broken, we have a clear trajectory to 2019s high ($13 900).

The longer the accumulation lasts, the more explosive after the move.

If it's going to be to the downside, the main target is the legendary 6k area that acted as a magnet in 2018 and was an important area of interest in 2019 as well.