i am the devil and i love metal but inverse pattern must formmetal has some decent news and a good team and tech but we got to build a pattern the professional traders understand .....pattern and market structure says we have to stalk
MTLBTC
almost alt time again....crypsters.......mtl reversal patternseeing the reversal patterns everywhere in the alts and bitcoin could be in the early stages of setting up a topping pattern.
it almost alt time again crypsters.
$MTL - Looking at the next several days.Taking an objective look at how I think the next few days will unfold for $MTL
$MTLMetal just released their alpha wallet. It's amazing, check it out if you haven't already.
Either way, it's coming to some odd endings right now.
Hopefully it breaks upward.
MTL/BTC Based on the Ichimoku, very strong resistance is in 170k sats range, if its broken, MTL will be on a strong uptrend.
Extension Fib from 1º wave $MTL MTLBTCAnalisys based in Extension fib from suposed 1º wave on MTL BTC
MTL - highly probable pivot on 121k satoshisHead and shoulders pattern caused a heavy correction, but target price have been reached.
Combine that with the bounce over the 120k sats support and the .786 fib retracement, and we already have solid basics for stating the correction's end.
Downtrend can't be defined over yet though, as both price and momentum are still pointing downwards.
Remember also the BTC fork chaos going on.
I'd place a little buy order between 130 and 140k satoshis though, profits will roll once downtrend stops.
Some short idea for MTLStrong support at 174, posible way up to ~233 or, if support will broke up, to ~140
MTLBTC buy levelMTL has been following a falling wedge for a while. It should break the wedge soon and start a bull run, probably when BTC does. The 1 day Stoch RSI is nearing oversold territory. The 4 hr is overbought. MTL may bounce off its long term support around 1828 satoshi, but if it follows the wedge and lets the RSI come all the way down first it could easily reach 1748 satoshi. Place buy orders at, in between, or even below these levels.
MTL/BTC trend lineI have found a rule of MTL's moving in the past, if this still works in the future, then its next path could be this. Maybe it will not be as sharp as the line, but the shape is like that.
MTLBTC First Half of October It's not clear actually. It's on support for now but a bearish turn or bearish trap may come. Volume is the key value and Stop-loss is very important for this days. If bounce will happen the arrows be our way.
$MTL Breakout?- Reduced BB gap
- Touching down BB support
- Descending triangle closing
- Going to test the last ATH?
$MTL updateWe're still on the red line. Needs to break 220 first. Possible short term target 240k and 250k.
$MTL next targetSome great news arrived for $MTL. Price spikes up and we could see another leg up soon. Before entering wait for a retrace on 0.5 or 0.682 fib level, i.e. 225-230k sat. If the price doesn't drop below we could hit 260k.
$mtl - Metal back on Track!Looks like we are back on the uptrend support with Metal. A coin which has been on this strong and visible uptrend since the 3rd day after being listed on Bittrex. Metal has strong fundamentals, a clear and visible uptrend channel which we are on the bottom of also a good buying point. When we look at similar cryptocurrencies such as MCOBTC we can see the visible volatility, and frantic movements caused by the pumping of the coin. I think this is mostly due to things such as bears and bulls fighting to take over each time. With Metal it seems as if a core % of the holders are bullish, and we get small retracements for the most part. This is a coin we have traded already for some nice profits and I'd assume we will continue trading it. The owners of MTLBTC also met up with Richard Branson, so I think we may see something interesting in the future. If you are looking for a long hold this would be a buy position, if you are looking for a simple swing trade sell the resistance. Metal also seemed strong with growth during most of the recent market downtrend, this let's us know that there are people with bullish interest for Metals Future
Previous Chart & Trade made by our premiums for 50% Trade
40% return with METAL COINMetal coin is on a correction phase of an uptrend. Limit order as described (with a stop loss in place). Target when it reaches upper channel as shown. GL.
MTL/BTC potential run to $15-$18 USD or in BTC .004Fundamentals:
-Metal alpha closed wallet testing screenshots were released and they look very impressive.
-Soon they will begin on boarding their clients as there have been over 140 signed agreements for medicinal marijuana companies to implement Metal for payment processing. This alone will generate over $200 million in revenue for Metal right off the bat.
-Strategic partnerships including banking agreements have been announced and we can expect something great to come out of Metal because of this.
-Again, MTL shines in a time when it's a bloodbath for most alts.
Technicals:
-Lots of respect on trend line
-New market cycle after going sideways for a bit
I believe we will see $15-$18 USD MTL in September. A recent run up to $13 was only a teaser. Stay tuned and be sure to keep an eye on this coin.
Looks like a top 10 crypto coin coming in 2018.
Decision time for MTL Does it continue in the downward channel, or does it respect the upward trend support line and breakout of the bull flag? I'm betting on a breakout. Fundamentals behind this project are strong, and I don't see the price getting lower than this ever again.
