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MCO

Monaco (MCO) back to new strengthAfter a tough week for monaco holders and in my opinion an out of proportion dump. MCO is coming back to new strength and has moved above the Kumo from 1m to 1h chart with a strong bullish move. Current chart is 30m chart. Currently slightly getting overbought with this short term zoom in, but zooming out to 1D chart you see that MCO is still oversold at the moment. Last weeks background: There was a huge pump after the news of MCOs cooperation with VISA was confirmed. Then the CEO gave a statement in which he said the asset contract would be removed from the token. The community answered with a major drop of which in my opinion was out of proportion. MCO is still one of the pioneers of making cryptos spendable everywhere and the roll out starting in Singapore is just a beginning. 20k cards have already been reserved. I agree MCO at times had a sloppy start, but I am as sure that the current time will be the last time the token will be available that cheap almost for ICO prices. I see MCO back around 8$ short term and longterm at least triple the current price. The CEO confirmed they will also add another asset contract in the nearer future which will result in another price jump. At the moment MCO is slowly but constantly climbing again and shows clear signs of reversal. Volumes are also rising again. It is a healthy bullish move upwards without the pump and dumb that MCO had 3 times last week. I think it is very good chance to go long, we are currently leaving the bottom and longterm the project behind MCO will be hyped surely once the cards will be rolled out internationally. DMI confirms upward momentum and bulls getting power. Short term there is resistance at about 7.20$ and then 7.66$ Within a few weeks there is also surely good money to be made here. Today MCO is one of the winners already with + 12.5% and still moving strong
MLong
by investra
2
MONACO - Rectangle Pattern / Over sold on Fibonacci.Monaco has recently been slammed by Bitcoin's price increase and with some bad news, they announced they would be closing some contracts with Visa which has left the community fairly outraged. If MCO is able to fix itself the currency has the potential to quickly retreat back to the $8 - $10 mark. It should continue to follow the pattern it has been for the past few months (fluctuating between the support and resistance), however, if the support lines are broken we could be looking at a longer-term decrease. I do suspect this to be the least likely option since as soon as some good news comes out traders tend to forget about the past and continue with the future which will cause an uptrend on the currency. Orange Line - Resistance levels. Purple Line - Support levels. As always, trade accordingly.
MLong
by thomasfar6
2
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!
M
by thomasfar6
2
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. --- 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. --- 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. --- Broad picture
MLong
by sasha_morozov
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)
M
by marcovdh98
1