Monaco (MCOBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Monaco began a wave one advance on April 2. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 19, and the red wave two (blue sub-waves a-b-c) correction ended on June 13. If this wave count is correct, Monaco should be heading next towards the April 19 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Looking at the weekly chart, I believe Monaco is currently in the red wave three (blue sub-wave iii). The red wave three began on April 2.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Monaco is a payments and cryptocurrency platform (Monaco Visa card and mobile app). Crypto Love reviewed the sector in April.

(Sources: https://mona.co/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monaco will takeout the April 19 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monaco will drop below the April 2 low".

If you think Monaco is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monaco will stay in a trading range between the April 2 low and the April 19 peak until August 1".

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