💎Technical Analysis Summary💎
-MCO closes the weekly candle below the major support area
-It also created a new All Time Low price
-With the Bearish engulfing candle
-It is a high risk buying this coin without any sign of strength
-The price could go deeper and catching a falling knife is dangerous
-Please don't invest or trade blindly
💎Technical Analysis Summary💎
-MCO rejected strong at 5000s sat area
-The price is on a downtrend heading to the key level of support
-The 3500s sat area would be an opportunity for the Bulls
-If the can defend that region in the coming weeks
-If you are looking for a safer trading entry
-Wait until the midterm trendline resistance is broken...
-MCO found support at previous resistance zone last August 2019 trading action
-The 3500 sat zone is now confirmed as a strong key level of support
-A massive pump happened and broke the trendline resistance
-Currently, the price is holding above the previous support area
-This is a sign of strength after the strong breakout
-What MCO needs to do is to...
There are still that gap to be filled on the lower end, so i can see either a $6.30 -> $6.60 and $6.70 -> $7.10 as bullish scenario and a $4.93 -> $4.55 and $4.49 -> $4.00 on the bearish side of it
THIS CHARTING IS NOT TIME SENSITIVE!
-the price is slow approaching the last fib support level
-including the minor consolidation last Oct 2019 trading history
-I advise you to enter a buy position only if there is Bullish strength
-but if this level breaks like a hot knife through butter
-we will likely see a revisit of the low at 3000 sat range
-and potentially form a double bottom reversal
Looking at our highest timeframe we can see MCO continues to respect its uptrend starting in 2019. Stochastic RSI showing momentum is in favor of the bulls with no signs of slowing down. The last 6 weeks have left price in a tight zone, struggling to close above $5.55 and below $5.10. Starting on the week of March 16...
Nice buy into the scallop
Here are some results for the ascending scallop
This chart is a long timeframe scallop results should be observed as the bullish break.
Comparison fractal of MCOBTC to USDOLLAR, very strange to see this correlation across such different pairs. Any thoughts? leave them below :) It can be seen that an ascending scallop led to a bullish breakout in both.
I got my eye on MCOBTC (Crypto.com) at the moment for some very bullish signals coming our way. Looking at the daily chart, we can see the coveted Golden Cross occurred back in November as the MA50 crossed the MA200. Since then, the price action has been riding the MA50 for support all the way to resistance. If we can get some volume and push beyond those...
More to come. Entry now will be a form of gamble as MCOUSD continues to show downside trend within the resistance band.
MCOUSD is holding strong to 50 SMA but a break below this will means the next strong resistance line will be tested.
Wait a little more before entry will be a more rationale position
Please forgive me as I will be focusing much less on daily publications and much more on the tech aspect of “ Fintech ” — a critically wonderful boggling, paradoxical blockchain technology !
Now I will still be posting semiweekly publications (at least 3 to 5 a week) I just wanted to let you guys know what was up in regards to why it’s been so long since I...