MCO has just broken the downtrend line for the first time since its last high in July. 200 EMA on the 1h was providing resistance but was temporarily broken whilst I have been typing this up. RSI hitting resistance, MACD crossed bull.
Zooming out to the 1d timeframe we have just touched historic support at around 0.00062 creating a double bottom with the next support at 0.00052. RSI has bottomed out and MACD has also crossed bull on the 1d timeframe.
Heres a look at historic support-
We also have a couple of great fundamentals coming up for MCO, the auto invest feature for their app is in closed beta testing and the card is in its final stages and is speculated to be released directly after the auto invest feature, if not at the same time.
MCO have also recently just cut their fees when purchasing crypto on their app, posting a photo on their twitter comparing them to coinbase and being much cheaper, I think this says a lot about their vision for crypto.com and MCO, they will not only be releasing a strong card, but will be looking to create a mainstream, easy to use crypto exchange app, where crypto can be purchased by anyone, anywhere in the world.
If you know our channel, you know we are huge fans of MCO and we have been buying it up at every dip and wont be trading it, but using this as more of a long term investment, but for those day traders out there here are some nice short term targets which should be achieved within a month or so, no problems.
MCO
BUY: 0.00068/0.00062
SELL:
0.00069
0.00076
0.00088
0.00097
0.00123
STOP LOSS:
0.0005
Zooming out to the 1d timeframe we have just touched historic support at around 0.00062 creating a double bottom with the next support at 0.00052. RSI has bottomed out and MACD has also crossed bull on the 1d timeframe.
Heres a look at historic support-
We also have a couple of great fundamentals coming up for MCO, the auto invest feature for their app is in closed beta testing and the card is in its final stages and is speculated to be released directly after the auto invest feature, if not at the same time.
MCO have also recently just cut their fees when purchasing crypto on their app, posting a photo on their twitter comparing them to coinbase and being much cheaper, I think this says a lot about their vision for crypto.com and MCO, they will not only be releasing a strong card, but will be looking to create a mainstream, easy to use crypto exchange app, where crypto can be purchased by anyone, anywhere in the world.
If you know our channel, you know we are huge fans of MCO and we have been buying it up at every dip and wont be trading it, but using this as more of a long term investment, but for those day traders out there here are some nice short term targets which should be achieved within a month or so, no problems.
MCO
BUY: 0.00068/0.00062
SELL:
0.00069
0.00076
0.00088
0.00097
0.00123
STOP LOSS:
0.0005
Comment:
MCO - 22.58% Profit
Second Target Hit
Second Target Hit
Comment:
MCO -41.94% Profit
Third Target Hit
Third Target Hit
First target hit