Monaco VS Bitcoin Breakout

Monaco coin has found the support at 57k satoshis and went sharply up towards 165k. The uptrend failed to continue and the price went all the way down to 57k satoshis area. The consolidation continued, but today Monaco finally broke above the downtrend trendline suggesting the beginning of an uptrend.

Fibonacci applied to the corrective waved down after both downtrend trendline breakouts suggest the potential upside target at 20k satoshis area, that is almost 100% growth from the current price.

On a downside, break and close below the 57k satoshis should invalidate bullish outlook and extend the consolidation.

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