Long

Metal - a hidden gem among oversold coins?!

Updated

Not gonna lie, I haven't researched this coin. To be honest, I don't care about it's fundamentals.
This coin looks like it is potentially about to E X P L O D E.
This coin is down 97% from ATH.
Back in the early part of December this coin had an 80% rise in one day..
Volumes are rising substantially, meanwhile the trading range for this coin has narrowed significantly.
MACD has been showing bullish divergence for months, and is near the zero-line.
RSI is showing bullish divergence on the daily.
Elliott Wave theory shows a full 5 waves down with an A and B wave already complete.

This is my personal trade. I bought in at 608 and plan to cash out at NO LESS than 900 sats, unless my stop is hit.
I am expecting this trade to be very short to medium term.
This coin has A LOT of room to move, especially if Bitcoin is finding support.
Once I am in profit in this coin, I will just be moving my stop-losses up every x%. A trailing stop loss, basically.
I strongly suspect this coin will produce massive profits for those that hold longer term.
Trade is invalidated with a break below 585 sats.
The above long position is just an example. My stop loss is located just under the previous low.

Stupidly oversold:

Accumulation, anyone?

Divergences:

Closeup:

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Weekly bullish divergence.
Look at those volumes :O

Trade active

Oh, yeah.
Forgot. D:

Breakout of a descending channel, with a subsequent successful re-test for support.
Let the games begin.

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The channel held and we've moved up!
This is my current count :)

Trade active

S/L moved to entry point at 608.
LET 'ER RIP!

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Hidden bearish forming in the 4h unless we break this resistance

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Looks like an A&E double bottom tho.
This would surely produce a great rally.
Stay tuned, friends :)

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TA Porn

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After checking the trend lines on the daily, I think we MIGHT have a breakout :o

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While this is technically a bearish pennant, volumes have been exponentially rising, and the RSI is massively bullishly diverging.
This coin is gonna M O V E

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Not entirely positive here, but we may be having a breakout.
Note the same volume seen on THIS daily candle so far is almost equal to that of the previous one which produced a bearish doji.
This looks legit:

Current count:

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Metal has so far flipped extreme resistance into extreme support.
On the 6h, we have wicked twice to 650 but as soon as we've gotten there, buyers have showed up. If MTL can hold 650 sats and enough buyers are present, we should see a nice rally in coming days :)

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I just realized. That screenshot is outright porn.
We broke the descending resistance line, which was re-tested for support.
Now we're confirming an Adam and Eve double bottom.

If this holds .. omg.

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Threw on the TTM squeeze indicator just to see what's going on.
Sure 'nuff, this coin has had the living crap squeezed out of it for months.

The past few weeks however? The very time in the history of this coin we have had an uptick on the weekly for the TTM squeeze.
Looks like it is still getting squeezed but this time it looks to be an upward squeeze.
Only time will tell.

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Highest sell volume since July on the TWO WEEK, yet we're producing a bearish hammer. Prior to this hammer we had a bullish inverted hammer, and a bearish morning star.

This signals potential equilibrium to me.
I've also noticed that when a coin has multiple doji's or hammers in a row, it usually has an extended and violent move.

This is beginning to look a lot like Christmas..

Trade active

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We need a higher high on the 1h RSI and soon.

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Count looking amazing so far :D

Trade closed: target reached

Well, it's been a while since I updated, but we hit our target. FAST.
WAY faster than I thought we would.

Unfortunately, I screwed up my trade, but this was an easy 50%.
Congrats to anyone who tagged along ;D

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By the way, for what it's worth, I believe this coin is probably only just getting started.

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UPDATE!

deactivatedaccount123

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