MonaCoin (Bittrex: MONABTC) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, MonaCoin began a wave one advance in January 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in September this year. If this wave count is correct, MonaCoin should be heading next towards the December 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe MonaCoin is currently in the red wave three (blue sub-wave iii). The red wave three began in January 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
MonaCoin comes from Japan. Crypto cruising explained the coin three months ago.
(Sources: https://monacoin.org/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "MonaCoin will takeout the September 22 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "MonaCoin will drop below the September 20 low".
If you think MonaCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "MonaCoin will stay in a trading range between the September 20 low and the September 22 peak until December 21".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST November 19 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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