NEO is a relatively younger and interesting project. Dubbed the second Ethereum, NEO has unique and valuable features and many are asserting that it can overtake its older counterpart in the future!
This kind of publicity, alongside with many other features, has given it a big boost in popularity which has helped solidify it as one of the biggest cryptocurrencies today.
If you are interested in making money with NEO, then take a seat and keep reading because I’m going to show you how to trade and take advantage of this great opportunity.
Why Should You Trade NEO?
NEO is a very profitable market for both long-term and short-term investors and traders thanks to a variety of factors.
First, short-term traders can greatly benefit from its liquidity. Compared to ETH, NEO lets users program in popular languages like Java, which really opens the gates to a wider target. This translates directly into liquidity.
Long-term traders can also gain a lot from NEO thanks to its huge support from the community, in which the government of China takes part. This is a great advantage considering that China’s regulations have been a large factor for plummeting crypto prices in the past.
If that’s not enough, NEO token holders can also benefit from earning GAS, which is the currency of the NEO network.
How To Trade Neo
Let’s start with the NEO coin itself by looking at this chart:
You may quickly notice the good liquidity so far. For a 5-minute chart, most candles have enough substance in them, with nearly half the stuttering in case of other cryptocurrencies.
This is especially good because it allows for pure price action analysis, look again:
Boom! You get a cup and a handle chart pattern, this time not continuing a trend, but reversing one!
From there, it’s fairly easy to continue!
This is where things get interesting. If you hold onto your NEO, you are entitled to GAS from mined blocks. Since NEO cannot be divided (and could come as an expensive investment), GAS is much easier to trade.
Here’s a chart of GAS:
There! As liquid as NEO. Actually, GAS can be said to surpass NEO in that sense since most people see NEO as just an entrance to this token.
Now, on the same chart, we have this:
Now, you may be saying to yourself - it was possible to trade the breakout of the sideways range - and yes, you are correct! This is how simple Price Action patterns are to trade and how easily they provide high-quality signals and profitable opportunities.
See you here next time with another profitable trading strategy.
Take care and trade well!