nicostran
Long

MTL/BTC Long! Volume, Divergence, Opportunity

BINANCE:MTLBTC   Metal / Bitcoin
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I zoomed very far out on this Daily chart , because I wanted to show how much buy volume has come in... Semi-Bullish divergence: Increase total volume indicator (OBV) but not a noticeable increase in price. We have had more single-day buy volume recently than in MTL's entire history. I say either this coin rises in the short term or it's as good as dead to me. But... if it's as good as dead why is someone buying it?

They have a working app, good social media presence...

I remember charting this coin several months ago, at 6k, 4k, etc. This coin can pump! If you're in, you're in. If you're out, you're out.

Bitcoin be damned.

I am not posting TPs here, but you can sell at the *not precise* resistance levels in red if you want and call them TPs. I am seeing a longer term trend here, and don't want to sell out too early.

Good luck!
Oct 05
Comment: price went up almost 5% to 1095 on binance. consolidating now but still above our entry. I am excited for this one. Will update when I decide to sell. I use MAs, Volume (on lower time frames like 1H, 30Min), and resistance levels to decide these points.
If we are at a resistance level but not significantly above the MAs, I may not sell. Learn that strategy and it will reward you. I haven't needed to use any other indicators since adopting this strategy!
Oct 05
Comment: Look at charts every day (but probably not the charts for coins you are trading unless you have the discipline not to ruin your trade XD). Doing this will help you internalize the way markets flow. That coupled with the above strategy will serve you well in any market.
Oct 07
Comment: After a run up to 1100, we are consolidating. Wish I had more to give you but for right now I am just hodling. Will update if the situation changes. Don't pour all your capital into 1 bag. I like putting 3-5% in a nice bag like this which I believe in
Oct 08
Comment: Still steady... I am still patiently waiting. Still at a slight profit from our entry. More to come I think :)
Oct 15
Comment: We got up to 1200! Optimistic about this trade. As said earlier, it is a longer term trade
What's ur target?
Reply
@Nagat, Identify resistance levels, when price reaches a resistance zone, analyze the price and decide if and how much you want to sell. But... this is a way better entry than what I posted on the chart! I want to still believe in MTL, but we need to see some action. There could be better setups out there right now...
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