Following our previous idea on MCO/BTC, Monaco coin broke above the upside target, suggesting further growth. At the same time, during this weekend price rejected the 38.2% Fibonacci support, that is btc 0.001.
This makes the btc 0.001 level a key support for Monaco. If price stays above the support, MCO is likely to continue the uptrend with the next upside target at 161.8% Fibonacci retracement level appied to the current corrective wave down.
Break above the upside target at btc 0.0019 will most likely confirm the long term uptrend and could send price to the new all-time high.
But if Monaco will close below the btc 0.00098, the consolidation or even downtrend continuation might be the case. Although at this stage it seems like unlikely scenario.
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