Long
Possible Scenario for Monaco (MCOBTC) - Cup and Handle
Hey guys,
I believe MCOBTC is looking to form a cup and handle.
Typically, cup and handles form when the price drops slowly due to a correction. The price remains stagnant for some time, but then good news is expected soon after (Monaco IOS App Release this week or next week, card release possibly next month), so people begin buying up, and the sentiment becomes better. Also, volume right now seems to be growing.
Due to Monaco's constant demand due to lockups for higher-tiered cards, and token burns, the price is bound to increase over time, another reason for people to buy up Monaco.
Right now, Monaco is ranked #110 in market cap, which in my opinion is undervalued for a token with such volume, demand and inherit-value.
It deserves to be at least #60 in market cap rank.
Anyways,
Good luck...
and remember,
Patience is paramount!
I believe MCOBTC is looking to form a cup and handle.
Typically, cup and handles form when the price drops slowly due to a correction. The price remains stagnant for some time, but then good news is expected soon after (Monaco IOS App Release this week or next week, card release possibly next month), so people begin buying up, and the sentiment becomes better. Also, volume right now seems to be growing.
Due to Monaco's constant demand due to lockups for higher-tiered cards, and token burns, the price is bound to increase over time, another reason for people to buy up Monaco.
Right now, Monaco is ranked #110 in market cap, which in my opinion is undervalued for a token with such volume, demand and inherit-value.
It deserves to be at least #60 in market cap rank.
Anyways,
Good luck...
and remember,
Patience is paramount!
Note
Well BTC caused the idea to screw up. But not to worry, we touched down perfectly on the 200-day MA, and it looks like from here on out, we could just possibly start an uptrend.
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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.