The last news of MTL being delisted from Bittrex made the token take quite a hit but it shows us an interesting pattern.
If this plays out as indicated this could bring about great rewards to investors.
We have a clear ABC wave pattern (purple) coupled with the arcs showing a slow down in price descent (orange). The ABC pattern ends at the upturn of the second arc marking our pattern reversal.
Now, it's very important the price moves up along the curve of the last arc (orange). If it breaks out of the curve and moves towards the previous low around the end of wave C. This could turn out ugly...
If the price starts trending upwards I see the price moving back to the previous ATH as shown with the red arc.
I would like to disclose that I have read the project but am not trading this based on FA but purely TA. Will there be catalysor for this upmove? Only time will tell!
Happy trading!
If this plays out as indicated this could bring about great rewards to investors.
We have a clear ABC wave pattern (purple) coupled with the arcs showing a slow down in price descent (orange). The ABC pattern ends at the upturn of the second arc marking our pattern reversal.
Now, it's very important the price moves up along the curve of the last arc (orange). If it breaks out of the curve and moves towards the previous low around the end of wave C. This could turn out ugly...
If the price starts trending upwards I see the price moving back to the previous ATH as shown with the red arc.
I would like to disclose that I have read the project but am not trading this based on FA but purely TA. Will there be catalysor for this upmove? Only time will tell!
Happy trading!