$MTL Great Potential Play
Updated
The dislike for 
MTL in the crypto community is well established, but even so, it looks like we may have found a bottom for a potential play. In addition, Metal is the primary sponsor for Richard Branson's Necker Island event, Necker Cup, which is being held in the Bahamas from Nov 27 thru Dec 1. With TA and FA combined, MTL might see a trend reversal, or at the very least, a short-term pump in price.
Intermediate targets can follow past support/resistance lines. Top target could be set to first resistance/fib combination.
Buy: now, around 54581 sats
Target 1: 74500 sats (+36%)
Target 2: 84400 sats (+55%)
Target 3: 98454 sats (+80%)
Target 4: 114000 sats (+108%)
Stop: Currently at all-time low, use your best judgement based on your own comfort level.
This would be a high-risk trade (*especially with the unknown, extreme volatility
BTC has experience over the last week*), I highly suggest you limit your exposure. Potential reward might very well be worth the risk.
Not trade advice, DYOR.
Event: neckercup.com/
MTL in the crypto community is well established, but even so, it looks like we may have found a bottom for a potential play. In addition, Metal is the primary sponsor for Richard Branson's Necker Island event, Necker Cup, which is being held in the Bahamas from Nov 27 thru Dec 1. With TA and FA combined, MTL might see a trend reversal, or at the very least, a short-term pump in price.Intermediate targets can follow past support/resistance lines. Top target could be set to first resistance/fib combination.
Buy: now, around 54581 sats
Target 1: 74500 sats (+36%)
Target 2: 84400 sats (+55%)
Target 3: 98454 sats (+80%)
Target 4: 114000 sats (+108%)
Stop: Currently at all-time low, use your best judgement based on your own comfort level.
This would be a high-risk trade (*especially with the unknown, extreme volatility
BTC has experience over the last week*), I highly suggest you limit your exposure. Potential reward might very well be worth the risk.Not trade advice, DYOR.
Event: neckercup.com/
Trade active
Zooming out to show ATL, big picture view.Trade active
Targets #1, #2 and #3 all hit within minutes... not sure what's up with that. But a great time to buy back in with those profits and lower levels and play again. Still a week away from the Necker Island event.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.