Monaco Analysis (4h)


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

评论: Interactive 15M Chart

评论: Dear friends,

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评论: Yesterday, almost all altcoins suddenly fell and MCO too, so the bullish pennant did not work. The price could not leave the consolidation channel.

I expect that the market will be in this channel before any news. Serious news is expected on October 18th, before this date, interim news is planned, which may affect the price.

I think that these levels are great for accumulating volume. Since the market has not failed under the major uptrend line and I doubt that it will fail. The price will be near the level of .0017, as there 0.236 fib and MA50 support.

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