Maybe MCO has started a larger structure Elliot Wave 3. Its first wave rallied from $0.63 to $28.99. The price got absolutely wrecked during wave 2. This is not surprising. I wonder if MCO is ready to begin a massive and violent bullish wave 3. This really can't happen without Bitcoin. Meaning, we need Bitcoin to go on a massive bull run (Elliot wave 5) if we want to see significant growth in value for MCO. Don't be deceived, all alt coins derive their value from Bitcoin. If Bitcoin rallies, then we might see the price of MCO reach the top of the parallel channel during wave 3 and intersect with the 2.618 Fibonacci level.
This is pure conjecture so don't misconstrue this post as investment advice. I'm long on this asset so i have been adding to my position for several months now as the price has been getting ****** up!