PatienceIsParamount

MCOBTC - Great Possible Entry - Inverse H&S

Long
BINANCE:MCOBTC   None
Hey guys,

MCO seems to be forming a triangle pattern right now. I personally think think it will exit out of the triangle upwards, as opposed to downwards. Cryptocom typically release major news when the market conditions are favorable, and right now, it seems favorable. It the announcement of MCO Visa Card getting the green light for operations in the US (https://medium.com/@Crypto.com/metropoli...) was made on the 16th of November 2018. That's 7 weeks ago. Then on the 19th of December they started accepting address details for US customers (https://twitter.com/cryptocom/status/107...). That was 2 weeks ago. The time it took from the announcement of the acceptance of address details for Singapore residents to cards shipping in Singapore was around 7 weeks. This time round, it could be faster, as now they have more experience with the process and have far fewer hurdles.

With the TA side of things, we can see the 7-day EMA (aqua colored line) and 77-day EMA (lime colored line) about to possibly converge, plus plenty of upward space for MCO to move, and if this ends up happening, then that would indeed be bullish . Also, there appears a double bottom , and a wacky looking inverse head and shoulders . If it breaks the neckline, then we can expect 0.00075.

BTC right now appears bullish . It's forming an inverse head and shoulders , with the right shoulder almost completed and close to clearing some major MA's and resistances.

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Be sure to sign up to the MCO app using the referral code P195VO5VKA, to score some free bonus sign-up money ($40 USD worth of MCO ).

Remember,
patience is paramount!

Good luck!

Comments

@PatienceIsParamount VERY GOOD CALL !!
Reply
@kulie, unfortunately, I sold way too early :( Why did I sell early? because I thought BTC was in a head and shoulders and was going to go down because of lack of volume. Also, because most times MCO typically goes down on weekends, so I sold early... What a mistake. Next time, I'm just going to set and forget and stop focusing on the short time ranges. Also, it appears that MCO is one of the few coins that doesn't follow what BTC does... it just does it's own thing, follows TA patterns perfectly, and pumps even without news.
Reply
kulie PatienceIsParamount
@PatienceIsParamount, yea mco has its own pumpers , it doesnt looks like a typical altcoin being pumped and dumped by exchanges. Its unfortunate that u missed this rally , but it seems like MCO has broken some huge resistance levels and maybe it is getting ready to go above 0.0015 btc ? How about doing a 1h or 4h time frame chart with more upside targets if there are any...
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@kulie, I will publish an idea, similar to this one that will give a full long-term Wyckoff accumulation scenario overview of MCO:



I believe MCO is in a strong Wyckoff accumulation pattern right now, and that we are almost exiting the 'spring' phase'. The 'bull run' (higher highs and lower lows) of MCO will, in my opinion, ignite a year-long bull run for MCO.
Reply
PatienceIsParamount PatienceIsParamount
@PatienceIsParamount, *(higher highs and higher lows)
Reply
kulie PatienceIsParamount
@PatienceIsParamount, Same thoughts ! The way mco chart is shaping up looks like it has already started the bull run to new ATH. The project is much better than many of the billion dollar marketcap coins and is severely undervalued imo. I will wait for ur full long-term Wyckoff accumulation scenario on MCO.
Reply
kulie PatienceIsParamount
@PatienceIsParamount, any update on this "full long-term Wyckoff accumulation scenario" ?
Reply
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