MCOGlobal

MCOGlobal

On the DAX chart, we’re tracking a very large diagonal pattern to the upside, which is likely not yet complete. We are probably in the late stages of circle wave C, within a larger third wave in the yellow scenario. Upside Targets Next resistance levels: 24,205 and 25,715 EUR Support Zone for Wave 4 Support area: 22,512 to 21,610 EUR This zone would become more...

MCOGlobal

On this chart, we are currently tracking the potential beginning of a larger downtrend, which could be a larger-degree Wave 4 correction. It is possible that a larger-degree third wave topped in December 2024 at $260, and for now, I am assuming this is the case. While further confirmation is needed, the price has already broken below our first signal line, which...

MCOGlobal

The current pullback, which began in December, is still unfolding. Right now, the market is testing the white wave 2 support zone between $4.80 and $5.46, but the chart doesn’t yet look ready for an upside reversal. Even in the white scenario, a bit more downside is likely with some small downward moves still to come. In the orange scenario, the price would...

MCOGlobal

The price may have formed a major top in Circle Wave 3 in the white scenario, which suggests a potential move toward the $20 area as part of a larger Circle Wave 4. For now, the assumption is that a substantial top has been struck, but whether this marks the end of Wave 3 (yellow scenario) or a broader corrective phase remains to be seen. Key Levels and...

MCOGlobal

There is growing potential that a major price top has formed, particularly after the break below the November low, which has increased the probability of this scenario. The move down from the February high appears to be a three-wave structure, and I am watching for a bounce from the current region. However, this could simply be a B-wave in the yellow scenario,...

MCOGlobal

SOL: The price is deep in the blue standard fibonacci extension support zone, which is located between $132.13 and $102.97. This zone is calculated based on the length of yellow wave A, and it provides standard support levels to watch for yellow wave C. Can I promise that it will hold? No, but if f this is indeed a C-wave to the downside then the bulls should show...

MCOGlobal

ETH: The white scenario still permits a move to all-time highs, but a drop below $1,790 would make another all-time high in this cycle less likely, as the pullback would be too deep for wave (4). In that case, I will monitor the lower support region between $1,436 and $1,254 for a potential reaction, should the yellow scenario materialize. However, this remains a...

MCOGlobal

On the Tesla chart, we are still tracking a third wave to the upside, which could be in the making from the April 2024 low. The rally into the swing high from December 2024, where the price topped around $490, has so far unfolded as a three-wave move. In the primary scenario, I am tracking this as wave A in the white scenario, meaning it is wave A of the larger...

MCOGlobal

On the IRM chart, I'm currently tracking a potential bullish impulse unfolding, represented by the white scenario. According to this white scenario, we're in a fourth wave pullback within a larger third wave. However, it's critical for the price to remain above the $80 level; otherwise, the pullback would become too deep for this scenario to remain...

MCOGlobal

EGLD / MultiversX: We saw a five-wave decline into the support area back in September 2023. Since then, the price has struggled to rally impulsively and has largely failed to participate in the broader bullish market. While it's still holding long-term support at $13.35, which is a positive sign, the short-term structure doesn't provide much confidence for an...

MCOGlobal

SEI: The price has not provided a clear indication that a substantial low has formed. A break above $0.337 is needed for an indication that a low of sorts has formed. However, as long as the rally is not in 5 waves and the foundation remains corrective and is based on 3-wave structures, any move to the upside could simply be a wider corrective rally. I do not see...

MCOGlobal

ALGO: The price is currently testing the 61.8% retracement level, which is the last relevant support level for wave 4 in the white scenario. While the idea of a fourth wave pullback will not be invalidated below this level, other interpretations will become more likely. The orange scenario allows for the interpretation that a long-term price top has been...

MCOGlobal

POL: From a price perspective, the pullback into support between $0.186 and $0.357 aligns well with the idea of a fourth wave within a larger upside impulse. However, the prolonged nature of this retracement reduces confidence in that outlook. Given the complexity of the correction and the broader position within the crypto cycle, a break of support and a deeper...

MCOGlobal

BTC: The price remains in a larger correction that began in December. While I still view one more high in this cycle as ideal—potentially targeting $130,000—the minimum requirements for completing a larger 5-wave pattern from the November 2022 lows have already been met. Any additional high would be more of a bonus than a necessity. A break below $69,140 would...

MCOGlobal

The market has now reached the crucial 78.6% retracement of the recent decline, sitting right at the top of the resistance zone. This is essentially the last stand for the bearish 1-2 setup in the white scenario to take shape. If the market pushes beyond this point, the yellow extended (b)-wave scenario will likely take the reins. In this case, we could see the...

MCOGlobal

It has been clear for quite some time that the DXY is going to decline further, and it seems that the bears have finally taken the lead. The next structural support level is to be found around $99, but fibonacci support for wave iii is located between $97.40 and $95.85.

MCOGlobal

The DXY could be working on a B-wave corrective bounce before wave C to the downside of a larger third wave within an ending diagonal pattern could send the DXY below the $100 mark. A break above standard resistance, i.e. a break above $105.94, could trigger the alternative scenario of a larger corrective rally that started in December 2023. However, this remains...

MCOGlobal

STX: I have readjusted the chart after the recent pullback and will follow primarily the white scenario of a large ABC structure (altcoins often form 3-wave tops), with possible upside targets in the $5.51-$11.94 zone, as long as the $0.95 support level holds.