Monaco Analysis

It looks like MCOBTC will have several levels of support from here before we reach the danger zone. We have the 38.2 and 50 Fibonacci lines with a level between, around .0035BTC, that has shown previous resistance and support capabilities. The long-term trend shows positive movement, which should provide the most support, if needed. If we cross this long-term trend, we have reached an area to consider selling, as all major support has been exhausted and we are left with 61.8 and 78.6 fib lines as the last lines of defense and better opportunity to buy back in, or accumulate more, if we are true hodlers.

My best guess is that we may trade sideways for the next week or so, between support lines and the long-term trend, at which point these levels converge and it will have to make move, which will take us back to .005BTC. The black swan of this analysis is the 08/31 release of card and app, which could cause emotional reactions one way or another. Crypto is very emotional, as most of us are all aware. I'll be watching the next few days to see how it unfolds, best of luck in your own decisions.