It's not that I just do not like the company and think it has red flags all over the fundamentals. But this one ran hard and when you see this type of run up, you quickly run out of buyers, and then those buyers turn to sellers, and then "look out below". Kind of like one of those old rockets, you light the fuse, it takes off, kind of dangles in the air, and then crashes to the ground. Get out while you can. All the signals of dead money!! Regardless of what I think about the company, the signals are yelling "get the heck out!".. Again not that the signals may be wrong and you may experience a bull trap, but there are other coins that have better setuips so I would move along.
Nice chart! my buy in, at 0.0035 on 28th - so you are right, hoping that the trend does not break or I am outofhere....
kulie
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Hey, any update possible for this one? Thank you!
goldbug1
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@kulie, I would caution a trade until it consolidates or provides another signal, but these are you two likely outcomes with support resistant levels. Thanks!
kulie
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@goldbug1, by any means do u not see a impulsive wave 5 coming for this coin? to like .008+ btc ...
goldbug1
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@kulie, It's not really clear as many of these do not have a long history but here is my count.
goldbug1
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@goldbug1, Nothing has changed from the post above other than adding the counts to show I believe we are finishing a cycle. wave 4 came close to the 1st wave but far enough we can consider it valid.
SafeGamble
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Either you're new to the cryptocurrency market or can't tell a whale dump from a gradual downtrend. It happens to Bitcoin too, by the way.
goldbug1
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@SafeGamble, I actually am new to crypto currency trading, but does that matter? Do you think this is crypto trading is harder or any different than trading the Forex and CBOE and Comex markets? You'll learn through experience and losses that blaming a "whale" for dumping stocks is only an excuse for bad trading techniques. You must trade tight and not get greedy, sell into strength and buy only high probability setups. Most of all you must know where you are in the food chain, and if your not a whale or a shark, then when they appear on your reef you move on. I' was very clear that I could be wrong, and I may well be and it could run to a higher high. But there are 800 coins to trade and many with better setups in my opinion. But please feel free to provide your TA on the MCO chart I am always open to ideas.
SafeGamble
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@goldbug1, I thought as much. It matters in the sense that your analysis is flawed. No one is blaming whales, they’re simply a feature in this market and can actually come in handy for low price acquisitions before the price is pumped up or naturally rises; I definitely made the best of the dip. If you know the fundamentals, like you say, then you know that the product launch is in 2 days and they have just announced that it will be a VISA card. This is huge. This token has been very bullish and has already doubled my investment, so I can’t really complain. I’m not going to share charts or go into TA, but since the dump there’s been 6 green candles in a row and with some luck there is still some gas in Monaco before the release. Long term? It probably wouldn’t be my first choice.
goldbug1
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@SafeGamble, LOL your funny and still an amatuer. Whales are a feature in every market. Been trading for 20 years. So you think 10% cash back, the rumor it's a "visa" card etc, is real? I have some land for sale cheap just for you.
1st fundamentals do NOT matter to a TA/trend trader. We trade trends not fundamentals. So news fundamentals does not matter. If you think they do then you really have not been trading long.
2nd you really think Visa is going to give up the money they make, plus all the agreements they have with financial institutions for Monaco or TenX? LOL that is funny!!
3rd They call it a crypto currency card not a visa card. The blog sites you visit call it a visa card but visa has not and will not endorse it.
4th How can you pay 10% cash back? LOL that's funny
5th Do you understand the infrastructure beyond the crypto and mining required to provide card swipes and processors pretty much around the world. And NO the banks are not going to allow them to use their processors as they would be allowing their competition to under cut them. "And the card swipe at HD, Krogers, or any other merchant across the world is owned by the banks and or processing company. That's their competition.
6th WHY IN THE HELL WOULD YOU USE A CARD WHEN YOU HAVE YOUR PHONE!! Ohh yeah because of the 10% cash back LOL
But SafeGamble. I have a 1965 Ferrari I will sell you for 3 bitcoins with all the money your making on such wise investments. You know they took all references to Visa off their website an card. Wait they were never on there. We call you in the investing world a Guppy. Good luck!