Long

MCO pump & dump coming?

Updated

The chart vs BTC looks similar, the general features are the same.

The ascending triangle looks promising. Indicators also turn bullish - RSI, MACD. Money inflow (VFI) also looks good.
Keep a tight stop just below the ascending triangle support line.

Note

1) it moves up much faster than last season. But it also means the support is good and holds the price.
2) That means it could pump harder and more aggressive, with a higher target than last season
3) 3 previous pumps reached all 0.038 ETH easily.
The pumps last just few hours.
4) The last pump had resistance at 0.035 ETH. So it seems like a good 1st target. If it pumps, it should reach.
5) 2nd target 0.038 ETH. Also should be reached, briefly.
6) Ambitious target above 0.04 ETH. How about 0.05 ETH? Seems very high. But if the volume is there, it could fly. But only if the volume is there.

Note

So, if it pumps, the sell zone on the chart might be too low. Chart done in a hurry. Had a better look at previous pumps just now.

Note

MCO made a small double bottom - tested support.
Should make a move soon, maybe even in the next couple hours.
First test resistance, then breakout.

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Small volume spike, stir in the water, to catch attention and lure the buyers. Sell orders moving up, so I'm thinking the the escaping supply is going to life the price over the next few hours.

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Buying support @ trendline touchdown, just before possible pump is much better than buying into resistance once the pump already started.
+ provides cosy low-loss exit if there's no pump.

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Looks like MCO is testing previous resistance as support. You know what comes next.

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Engine test fire, we have ignition. Low volume, gently. It's not the Big One yet.

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It could fall down and retest previous resistance as support before cranking up the volume. It's not in a hurry.

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Nearest target around 0.02 ETH? I think afterwards it could make a mini-dump, head down towards long term ascending support and take a break for the few days, let the RSI dip below 50, cool down. And then start grind slowly up along the support, approaching the real show.

Note

A fat sell order appeared for a brief moment on the order book, at 0.03 ETH, much higher than current price. Good 1st target. If the operation goes well, it could go higher.. depends how much attention it can attract.

Note

2nd target 0.035 ETH. I'd say very likely judging by the fact it goes much faster this season. 3rd target 0.04 ETH, hard to say if it will reach.. got close last season, but very very briefly.. Let's say 0.04 ETH is ambitious, depends if the pump receives much interest and gathers traction. Price support has to be there, buyers coming in hot, otherwise there's no point to ramp the price.

Note

Trade invalidated. VFI drops. Looks like the market makers are cashing out.

easy-peasy-x

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