MTL Metal Long Idea - Ready to take off OR...delayed a bit
Updated
Buyers beware !!!!
5000-5400 satoshi range seems like a decent enough entry. As close to 5000 as you can get - the better.
But those volume spikes keep me guarded against this one. It seems very risky. I would recommend watching this trade throughout its journey or with a good stop/loss in place.
Read on for more details:
MTL -1.79% looks like it is ready to show some muscles.
The zigzag lines are drawn based on fib retracement levels & fib circle "encapsulation".
* GREEN - very positive outcome
** YELLOW & ORANGE - uncertain, but more likely outcomes.
**** RED - very "negative" outcome. -> as in we might be delaying this takeoff for a while longer.
*****
BLUE - Possible *LONG* EW Count.
*****
RSI looks like it is steadily heading into bull territory.
if StochRSI bounces off 25 levels again, it is a very good sign.
Volume has been steadily increasing in the last days/weeks....BUT
BUT!
Look at those random spikes in volume!
If someone is not trying to keep the price afloat, then I'll eat my hat.
If you like this analysis, a "like" is always appreciated & helpful.
For more charts, feel free to follow me on tradingview.
Kudos to tradingview user knguyen5 for spotting this one early !
5000-5400 satoshi range seems like a decent enough entry. As close to 5000 as you can get - the better.
But those volume spikes keep me guarded against this one. It seems very risky. I would recommend watching this trade throughout its journey or with a good stop/loss in place.
Read on for more details:
MTL -1.79% looks like it is ready to show some muscles.
The zigzag lines are drawn based on fib retracement levels & fib circle "encapsulation".
* GREEN - very positive outcome
** YELLOW & ORANGE - uncertain, but more likely outcomes.
**** RED - very "negative" outcome. -> as in we might be delaying this takeoff for a while longer.
*****
BLUE - Possible *LONG* EW Count.
*****
RSI looks like it is steadily heading into bull territory.
if StochRSI bounces off 25 levels again, it is a very good sign.
Volume has been steadily increasing in the last days/weeks....BUT
BUT!
Look at those random spikes in volume!
If someone is not trying to keep the price afloat, then I'll eat my hat.
If you like this analysis, a "like" is always appreciated & helpful.
For more charts, feel free to follow me on tradingview.
Kudos to tradingview user knguyen5 for spotting this one early !
Note
TBH this smells like price manipulation...Again..buyers beware! It can go either way in my opinion.
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