Short
MCO in a corrective wave
MCO has finished an EW cycle, and is is the process for an corrective wave (-23% at this publication time on Bittrex).
MCO is going to publish its new app on August 31st, but rumours emerge as the 500 cards are sent without the Visa logo.
I don't know if this ia verified or fake, but the market seems to "sell the rumor".
The Mona.co website do not reflet Visa on its web site https://mona.co/images/black-card-banner-desktop-f416df99.jpg
The BO reflects the B wave with a resistance at 40.
Nevertheless an huge buy wall is present at 50, which coincides with the previously seen resistance.
As of now, the dip can be tried, but it's wiser to have SL or entry orders prepared below/over the SR.
This idea is based on my technical analysis, in case of a major news, it can be invalidated any way
This is not a trading advice but my point of view
MCO is going to publish its new app on August 31st, but rumours emerge as the 500 cards are sent without the Visa logo.
I don't know if this ia verified or fake, but the market seems to "sell the rumor".
The Mona.co website do not reflet Visa on its web site https://mona.co/images/black-card-banner-desktop-f416df99.jpg
The BO reflects the B wave with a resistance at 40.
Nevertheless an huge buy wall is present at 50, which coincides with the previously seen resistance.
As of now, the dip can be tried, but it's wiser to have SL or entry orders prepared below/over the SR.
This idea is based on my technical analysis, in case of a major news, it can be invalidated any way
This is not a trading advice but my point of view
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.