jhindman989
Singkat

MCO - Buy Point - Short

BITTREX:MCOBTC   Monaco / Bitcoin
MCO             has increased substantially in the wake of the BTC             uproar and immediately subsequent downtrend. As we approach a new BTC             "norm", we should be prepared to take advantage of BTC             HODLers dumping Altcoins at sub-optimal prices to re-enter BTC             holds.

MCO             has tested an apparently solid support line just above 0.001 BTC/MCO. If it holds to its current uptrending channel, MCO             should see a low of ~0.00095 - 0.00105 BTC/MCO. This can change quite quickly if BTC             continues to run toward $17,000 - 17,500; this would drive most Alts down after a short-term pump, as it has done in the past. Realistically, 0.0011 should be a comfortable short term sell if you are in at a low point in the channel. If you are open to higher levels of risk, you can target somewhere around 0.0012+, but be mindful of the upper channel limit and to what that value is equal when the upper channel limit is tested.

One additional factor to keep in mind is that we are testing the MCOUSD             14-day MA price point. If BTC             moves to ~$16,000 - 16,500 today and we remain within 5% of the 14-day MA price point, only a major BTC             uptrend will dethrone MCO's next run up.

I will be targeting a buy-in of 0.001 with 40% of my investment and a subsequent target of 0.00095 with the remaining 60% of my initial investment target.

If BTC             forces a short term decline/adjustment in MCO             , then I will be targeting a value of 0.0008235 ($14/MCO & $17,000/BTC) with an investment equal to the total initial investment.

If BTC             moves past $17,500, I will sell at a loss and re-buy when BTC             is ~$18,500+.

As always, best of luck on your trades, research until your eyes are practically dried up prunes, and never "bet" more than you can lose!

Cheers,
-Jordan
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