MTL
MTLBTC-Daily-Symmetrical triangle potentially confirming uptrendMTLBTC on the 1D chart is looking absolutely juicy. As consolidation into the apex continues, we see declining volume tightening as it prepares for its move up. The symmetrical triangle is indicative of a continue uptrend, of which MTLBTC has been in for a few months now. Purple zone is the desired breakout/breakdown point, while the pink zone is the potential price target. 600 satos is a potential resistance point. Watch for the RVGI signal line to cross.The fundamentals, namely the Q1 release of the Pay app, along with aggressive marketing, new whitepaper, and a new website, all coincide with the consolidation of the triangle.
MTL at the bottom of Ascending TriangleMTL has held up super strong in this recent whatever you want to call it that we are in. I keep coming back to it for trades and even miss out on it when I think to myself its too risky.
We are bouncing off the bottom of this ascending triangle and still within the alternative which is a channel. I think we could hit the top of this triangle that we have moved into as MTL has performed very well. Lots of manipulation on this coin though and wash trading to boost volume. I don't think the whales will let this fall below the channel.
MTLBTC TRYING TO BREAK RESISTANCEThis is my idea about MTLBTC, at the moment it was hit twice on the resistance line @0.00053 BTC. As you can see in my TA, MTL will hit resistance again and break it to the target 1 and then target 2 (Long Strategy). For those who follow this strategy, please allow some time for this trade to develop. Thanks.
Buy range: 0.0004 - 0.00044 BTC
Target 1: 0.00055
Target 2: 0.0007
Stop Loss: 0.00033
MTLMTL has held up tremendously throughout this little dip we've experienced being relatively stable for the most part compared to other coins that have dropped substantially, MTL has maintained its upward channel. While currently mid channel, this could go either way.
Purple dotted lines are daily trends
METAL MTLMTL has serious accumulation happening last few days/weeks and I believe its gonna move upward movement.
Its previous peak 300k sats at bittrex but now it got delisted in bittrex because they dont have product yet
and it cause MTL to drop to 40k sats.
but good thing MTL is going to launch METAL Pay this March 31 which is humor said it will going to relist to BITTREX after they launch their product.
New website also on MARCH 31
As you can see in the chart, Its gaining good momentum and waiting to breakout to start a uptrend channel with a solid volume confirmation.
it stablish good support around 370-420.
This is not a trading advice but i'll bet MTL gonna blow this coming days.
Buy zone 400-450
Sell zone 720,860,1100,1420,1748,2057
Monster buy volume spikes on MTL, near strong support lineI track volume vs market cap rank. Currently MTL is ranked 170 but has 45th highest volume. I'm seeing potentially some monster accumulation here (has been happening on and off for a few weeks). First time I noticed it was out of HITbtc (Korea) today is on Binance. This is possibly driven by BITTREX accumulating ready to relist (as has been rumored). If not I'm not too sure what else, unless someone knows something we don't. That said MTL is currently 12% of ATH vs BTC so represents good value, not withstanding that crypto credit cards have had some troubles lately I think this is a pretty safe play.
In a general sense I see BTC gaining in market domination (see coinmarketcap.com) so keep an eye on that too.
That said, there's no guarantees (see my last one on Nexus, I still believe it'll come good though).
Metal Pay Could Be Worth BuyingMetalPay starting to show signs of life while rejecting the uptrend trendline and breaking above strong resistance at $6.75. At the same time, MTL/USD broke above the downtrend trendline and 200 Moving Average.
Following corrective wave down was stopped at the previous resistance, which now is acting as a support. The 200 Moving Average is now also acting as a support and this could be the starting point for MetalPay to start rising. The upside potential is definitely there, although MTL/USD could be range trading for some time before going up.
The strong resistance is located at $18, where two Fibonacci are inline. First 127.2% applied to the previous all-time high, and the second is 161.8%, applied to the corrective wave after the $6.75 resistance breakout. If/when MTL manages to break above $18 resistance, the next target is seen at 227.2% Fibonacci which is a very strong psychological round number - $30. This could be the final upside target for the potential upcoming wave up. Only a break and close below the $3.33 support could invalidate bullish outlook.
MTL/BTC Long-term PredictionNote: Amateur/rookie opinion.
Great project with long-term hold potential (most crypto start-ups 80% will go full bust after some point when the market becomes more mature).
Fundamentals:
-Strong professional team headed by Michael Hayner, networking effect from contact with virgin and sponsored sporting events
-Realistic proof of purchase (5% PoPP to sender and receiver of transaction - "similar" marketing as PayPal (pays users at start), financial incentive to use platform)
-Real focus on ease of use and app aesthetics (Good looking UI & UX)
-Potential crypto-fiat gateway for new entries into crypto market (links to old legacy systems - aka traditional banks)
-Release of iOS and Android app in Q1 & Q2 of 2018 respectively
-Will be relisted on Bittrex soon, therefore higher trade volume
Note: Relatively low total supply of 66.6 million
Technicals (neither chart or count is perfect):
-Not rocket science achieved an All-time-low in December 2017, All -time high was in September (buy low, sell high as seen from basic Bittrex data point highs).
Still very attractive to buy, might short-term dip if counting is correct.
-Volume: High trading volume (buys and sells) despite fall from previous highs, confirmation of reversal to come
-Start of boom-bust predicted from Stochastic (not shown) or normal RSI anticipated dip to oversold
-MTL/USD (not shown) shows cup-handle pattern on day chart, bullish indication
-USD Prediction: 16-18+ per MTL (conservative) depending on BTC/USD price
Opinion: Good, realistic project (high survival chance). Strong fundamentals and good-looking technicals indicate a good long-term hold.
Watch it! MTL be a jumpy one...Good evening fellow traders, MTL is a definitely a jumpy one and here's my thoughts on how to catch it:
Analysis
The pattern has been pretty consistent in 2018 (and most of 2017 as well) - it typically travels down a channel, bouncing off levels of support and resistance, and then jumps off in an extreme ABCD pattern settling down somewhere around the 0.5 - 0.382 level. Channel down lasts for about 12 - 15 days. which puts us about halfway through the downward channel cycle. I've drawn out the predicted pattern down and then the jump.
Key Buy zone: 390 - 365
Sell Targets:
555 - 50%
595 - 30%
645 - 20%
Timeline: Feb 18 - Feb 22
Important Points: RSI and CCI have historically been really good indicators for this coin, while increased volume is not necessarily required. Look our for both of those to touch the 30 and 200 marks respectively.
Note: What happens with BTC will likely impact MTL so it may change everything.
Lastly, you are responsible for your own action/trades, I'm doing this for fun/not suggesting anything.
P.S: I welcome any feedback or questions, appreciate the thumbs up if you like/agree with what you see
Thanks,
A
$mtl my love hate relationship unfortunately this metal chart sucks cause there is no data, so im just gonna mention a few reasons why this is going to explode in the near future.
Current MCAP $83,404,420
Daily Volume $28,122,100!!!!!!!!!, almost 30% of its MCAP
Coin Circulation 19,300,994 MTL
days since ATH: 153
% down since ATH: 69%
Those factors with the release of its product at the end of this quarter, as well as the market its going after (Coinbase competitor), is going to make this a top performer for 2018. when it finally goes, it wont look back.
Metal is shiny - huge gains comingMetal is undervalued, oversold, and has their App Release due this month. BTC downtrend has suppressed this coin, while other shitcoins have been p&d to their limits. MTL (metalpay)
- Stoch RSI reset on 1day chart
- TD9 (tom demark) Buy signal on 1day chart
- In descending triangle, waiting for breakout
- strong Catalysts with App releasing this month, and their PR increasing on social & youtube
TP at the Strong Resistance or Fib Lines, but i'm HODL'n until all time high.
If $mtl drops to .0003-00035 i'm doubling my bags.
Good Luck to you!