MCO vs BTC

Following a strong oversold period MCO token on this 1-day chart is showing signs of a trend reversal. Yesterday's candle closed above the resistance trend line with strong buying pressure following a bullish engulfing candle. Additionally price action is below all the major moving averages, including the 10-day. Rule 101 - buy low! With regards to the oscillators, RSI resistance has now become support and the Stochastic RSI has made higher lows crossing up the 20, very bullish. Volume is the only thing that's missing here. This might be a Binance issue only, OKEX volume looks much more convincing.

Weekly chart - price action is currently testing support on the 50-week moving average.

Monthly USD chart - of all the alt-coins I've looked into I've not seen such impressive buying pressure (Dragonfly DOJI candlestick during the month of March) - this signal is visible across all the high volume exchanges for this token.

Trade closed manually:

Well damn. They payment processor for MCO Europe based in Munich are seemingly fraudsters. No TA could have saw that one coming...

Be greedy when others are fearful.

www.ft.com/content/7...2a-b54a-fa6156f61ca2

Comment:

Is this Phoenix reborn from the ashes? Bullish divergence in the BTC chart - might be a good opportunity to take a position.