Hello guys! This is what I think will play out for MCO during August-September. BTC just had it's rally towards $8,500, and it now looks to be correcting itself back down to the 200-day MA on the hourly chart, which looks to be around 7700-7900. This should take down alts as well. Once BTC reaches that 200-day MA level and rebounds, alts should pick up steam and rise again. Also, this minor correction for BTC seems to look like a handle formation for a much larger cup and handle formation that spans 3 months back, and should take us straight to 10K - if everything goes fine.
MCO seems to be in a descending wedge right now. From experience, I've found that breakouts out of descending wedges seem to occur on the fifth correction wave. Also, a major trend line (white line) seems to be approaching closely, which it looks to touch down upon in the next few days.