MCO Overview for Q3/Q4 - MCOBTC
Updated
Hello guys!
This is what I think will play out for MCO during August-September.
BTC just had it's rally towards $8,500, and it now looks to be correcting itself back down to the 200-day MA on the hourly chart, which looks to be around 7700-7900. This should take down alts as well. Once BTC reaches that 200-day MA level and rebounds, alts should pick up steam and rise again. Also, this minor correction for BTC seems to look like a handle formation for a much larger cup and handle formation that spans 3 months back, and should take us straight to 10K - if everything goes fine.
MCO seems to be in a descending wedge right now. From experience, I've found that breakouts out of descending wedges seem to occur on the fifth correction wave. Also, a major trend line (white line) seems to be approaching closely, which it looks to touch down upon in the next few days.
Anyways, let's see how this plays out...
good luck and remember,
Patience is paramount!
This is what I think will play out for MCO during August-September.
BTC just had it's rally towards $8,500, and it now looks to be correcting itself back down to the 200-day MA on the hourly chart, which looks to be around 7700-7900. This should take down alts as well. Once BTC reaches that 200-day MA level and rebounds, alts should pick up steam and rise again. Also, this minor correction for BTC seems to look like a handle formation for a much larger cup and handle formation that spans 3 months back, and should take us straight to 10K - if everything goes fine.
MCO seems to be in a descending wedge right now. From experience, I've found that breakouts out of descending wedges seem to occur on the fifth correction wave. Also, a major trend line (white line) seems to be approaching closely, which it looks to touch down upon in the next few days.
Anyways, let's see how this plays out...
good luck and remember,
Patience is paramount!
Note
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