SUMMARY
Check this out...this chart looks very similar to the ZEC chart!! Monaco (MCO) also belongs to the double Cup & Handle species pattern. This level of similarit is not an accident but rather a reflection of sentiment. It's important to understand that sentiment has a certain degree of segmentation and that means patterns will group or bin together. This could also mean that the buyer/sellers of ZEC share much commonality in sentiment with those for Monaco (MCO). This is very interesting and it leads to what I've written about in the past: All the Same Market. The whole of cryptosphere is BULLISH!! I had projected this before the Altcoin Popcorn Symphony started popping and now the "crescendo" effect will soon turn to thunderous climax.
The below chart is showing a pair of fancy Cup & Handle patterns...double the bullish impact! The $50.12 target should only be a stepping stone for triple digits!! Cup & Handles often also do a bit of horizontal channeling just like ZEN and STEEM had. MCO is expected to escape out of this channel with a violent upward surge.
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The MCO/BTC looks more like a soup ladel than a Cup & Handle! There are so many types of shapes these cup & handle patterns can take. Just like the anything, within the commonlities in features reside many uniqueness. What's noteworthy is the price breakout and this is indicative of an ipulse set of waves UP towards 0.00471 BTC!!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**