DefineRisk

MFT Outlook

Long
BINANCE:MFTBTC   None
Picked up some MFT today. BTC is on some shaky ground but alts actually held relatively well against BTC during this last dump after BFX/Tether FUD. This is simply due to the fact that there aren't a whole lot of people left willing to sell down here. So while MFT has been week, it is at a level where I see the risk being well worth the potential reward. As noted on this chart, last time MFT's RSI reached a level of 20 or less on the daily we saw a massive run that saw a net gain of greater than 150%. While I'm not going to say we will see a similar run in the immediate future, the potential makes it worth taking an entry here.

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