![Analysis_Logo Resize.png](https://cdn.steemitimages.com/DQmPGS4NFos8KZvW7KRjkYs21czufu92Vr9qooFwGNJm5vc/Analysis_Logo%20Resize.png)
### Like most altcoins, NEO has been rapidly loosing value for nearly 4 months straight. It bounced off a critical support/Demand zone ($15.75-$14.15) just over a week ago. The bulls were able to defend this zone, but not before price barley penetrated by just a wick. Zooming out on the daily chart, we can see NEO has been operating within a falling wedge for many months. It’s currently reaching the apex of this wedge where a breakout would become likely. If price does breakout, I don’t see much resistance until $26.70. That said, I can see the possibility of 1 more wave down while still remaining within the falling wedge. If price decisively (more than a wick on the daily) breaks below $14.15, there’s hardly any support until at least $10.90. 
![Screen Shot 2018-08-23 at 9.32.15 AM.png](https://cdn.steemitimages.com/DQmPZoSBjtwP48nRR4hkPXmEuKZ68tPTC5RR3J4hT9NFEiw/Screen%20Shot%202018-08-23%20at%209.32.15%20AM.png)
### Looking at the 1 week RSI, we can see it’s at it’s lowest point since early 2017. It’s also right at the apex of a falling wedge.
![Screen Shot 2018-08-23 at 9.34.32 AM.png](https://cdn.steemitimages.com/DQmTumBZ38FbpscrzHzg3Bwx4wYSJR5bn7u9XqYcZsnViGH/Screen%20Shot%202018-08-23%20at%209.34.32%20AM.png)
### The 1 week MACD is showing clear bullish divergence. 
![Screen Shot 2018-08-23 at 9.37.26 AM.png](https://cdn.steemitimages.com/DQmQHmQDMvu8vqUZpGmGcGakcW7dxQhqVoGWGbEkMFxDBjx/Screen%20Shot%202018-08-23%20at%209.37.26%20AM.png)
### Obviously NEO, like all altcoins, is somewhat tied to bitcoin. If BTC falls, NEO will likely fall with it. The said, if Bitcoin continues consolidating, I can see NEO possibly breaking out. What do you think crypto investors...is NEO a good buy?

**I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!**
### *Workin*
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