MCO is showing two bullish patterns in different timeframes. An ascending right triangle in the 4 hours chart and a cup and handle in the daily chart:
The minimum target for the ascending right triangle is 32$ and for the cup and handle it's 40$.
Watch for a breakout above 21$ for confirmation. Even if MCO makes a new low below 9$ (I don't think it will), then it would still fit the bigger cup and handle pattern perfectly...
The longer it takes to form the handle, the bigger the following explosion in value usually is.
I am expecting 40$ MCO by the end of February and I am willing to buy more if it drops.
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
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Have a nice day :-)
If it goes to 40 bucks my brother will be very happy he holds a lot of MCO :)
I will be happy too because he is my brother hehehe ;)
Nice job buddy!!!
I don't hodl many coins beside STEEM and SBD but the ones I do are DRG, BNTY and MCO. And MCO is so ready for a breakout ..
Extremely beneficial information, much appreciated. Resteemed, Upvoted & shared to TW, FB, IN. Helping spread your love, all over!
thank you.
Don’t you think this visa thing will hit them? It could be a ln opportunity I guess but seems pretty negative near term.
@vimukthi told me, that they focus on SEA. The visa thing happened only in Europe. It could actually turn out positive for MCO because of less competitors.
Monaco doesn't has wavecrast as the card issuer etc. ( like tenx and others), but they youse wirecard. Wavecrast got banned because they broke the rules they made with VISA, like expanding outside of europe. Wirecard is already worldwide. Beside that Monaco is a VISA program manager (highest rank possible in VISA chain). So now people finally understand that Monaco is the best possible debit card ( and in the future even more) at the moment. Enjoy the ride for the coming weeks/months to come.
Great post dear @ew-and-patterns resteemed
Nice post! I follow and upvote bro
WORRY OUT ! THANKS FOR THE GREAT NEWS
Would you post your thoughts on litecoin? As steem is the only cryptocurrency I have and I am thinking of investing in litecoin.
Is there a chance of converting SBD into steem?
Which one raises fast to 20$?
I think SBD will reach 21$ a lot faster than STEEM, but you can never be sure.
Good technical analysis