MCO/BTC Falling KnifeThe market has dropped to crucial support level. Also RSI on 4H, 1H and 1D charts looks oversold.
It is posibble to try catching the falling knife near 0.00057-0.00062 zone.
Monaco
MONACO - Head & Shoulders forming + Support and Resistance.We may be seeing a Head & Shoulders pattern form on Monaco, this currency tends to not sustain a high price for long since it has a low supply, therefore, it's extremely volatile so we usually always see a strong correction from a recent increase. We should also take into account that there is a solid Support and Resistance in place for the currency, you should watch these levels as indication to sell or accumulate, if we break through the resistance level we could see an uptrend to previous highs over the course of time, the support line has the opposite effect but I feel like that is unlikely at this point but we will probably touch down to it (You should pace buy at this point).
Orange Line - Resistance levels.
Purple Line - Support levels.
As always, trade accordingly. Good luck!
Monaco Analysis (4h)Hey!
It was a hard month for holders of Monaco, but I think that next week there will be a lot of positive news, which will positively affect the price of MCO.
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Technically, everything looks good.
Quite a strong bullish divergence from the price and the RSI indicator.
Not too strong a falling wedge was successfully punched by a large buy volume.
But, the market faced downtrend line and MA200 and could not break them.
Now the market is above the MA50 and 0.236 fib, which looks good.
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On the 15-minute chart you can see the formation of a bull pennant.
if it's the bullish pennant, then the projection of its flagpole will lead us to the next downtrend line.
The flag should be confirmed by a powerful breakout of the upper side and strong buy volume.
The market should not fall below .0017, since there will be an MA50 and 0.236 fib, which will be support.
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Broad picture
Monaco soon to rise - News will arrive soonThere will be news within 2-7 days. Monaco should rise afterwards, the reason I think so is because Kris has not bothered so safe Monaco by spreading news Monaco will be fine. He is calm and knows when to bring out news about MCO. Therefore, I have a good feeling about good news coming up followed by a fast rise.
Buy margins between 0.001450-0.0016, profit potential at 0.0020-30 in 7 days max. (Risk to reward is very good in this scenario)
Don't make your losses worse if you are already in here, by selling it now, wait it out.
Disclaimer: These are just my ideas, please buy and sell at your own risk.
BITTREX:MCOBTC > When I wrote this. (I bought 200 at 0.0015k)
Monaco Entry LevelThe price is going to bounce from the uptrend line. RSI will confirm price reversal, if we have a bullish candle. The downtrend line is a barrier for further upward movement. If the market can break it, we'll get a confirmation of upward movement. DMI shows that the market has power for moving upward. We can try to catch this movement placing buy orders above the downtrend line at 0.002425 level. Stop orders must be below the support zone at 0.001800 level. The main profit target should be at 0.003500 level.
Mid-/long-term bullish on MCO/BTC;Fib-Speed-Resistance-Fan;4hIn chart-terms we found quiet strong support, if it holds, what it probally will, we will see a steady up-trend in the next months.
Once they roll out the cards and release "the so far unreleased product-fetuares" we will see a massive upside im my opinion.
SO:
Buy the Rumors (NOW) and sell the news (may in 6 month/according to your trading-plan)
MCO/BTC Trend ChangeWaiting for MCO/BTC jump till 0.00311 fib line. By looking at Directional Movement indicator we can see that DMI- is crossing with ADX, that means it will rise if it doesn't break support line.
Monaco (MCO) buying opportunityMonaco (MCO) buying opportunity. It passed two support levels and 0.00247564 would be a safe entrypoint.
Disclaimer
The information is not intended as and does not constitute investment advice to any person. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or crypto. There are inherent risks in relying on, using or retrieving any information found here, and I urges you to make sure you understand these risks before relying on, using or retrieving any information on my posts. You should evaluate the information, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, other information.
MCOBTC trade setupMonaco is currently in a pinch. If it stays above the support uptrend slope, then we could see a bottom reversal in the coming days. When the bottom reversal happens, you can buy and wait for it to retest all time high.
If it goes down, we could see it dropping to the support levels indicated in the charts above. Wait until the drop stops before buying.
Monaco Buy SignalBased on the 4H chart of Monaco, we can see that the price bounces from the support zone. This zone is formed by Simple Moving Average with period 50 and 0.003500 support level. MACD histogram and RSI confirm price reversal. DMI shows trend market conditions and allows opening long trades. It's a buy signal. Pending orders should be placed above the high of the signal candle at 0.004600 level. Stop orders must be place below the support level. Profit target is at 0.006000 level and a part of trading volume should be left for long run.
MCO Bear Trend Reversal to Bull. 3rd Skyrocket.MCO Bear Trend Reversal to Bull. 3rd Skyrocket lining up with the announcement of their card partnered with Visa.
If MCO dips below .0032 BTC the bear will continue.
Look for buy within the next day or two after it has crossed the cloud.
$MCO ... I'm in.After the previous ATH a 48hour or so downtrend begun. However, since then a double bottom ('W' bottom) has formed and a downtrend trendline breakout then followed. Previous heavy resistance has become the current heavy support.
Moon suits on.
