MGTI - Just completed 5 wave up to ATH. Now on 5 wave downMGTI achieved a share price of $8 this morning on heavy volume. $8 is the 161.8% mark of the previous high set in 2016.
Driving factors for price decline:
Extremely overbought levels.
BTC price currently under attach by BCH and in decline
Already in progress.
Expect to see a 5 impulse wave correction. Buy level $4.10 to $3.83.
Predicted price in January 2018 -- $10.63 -- target price assuming the chart is correct :)
A quick note on the decline of BCT and it's effect on MGTI's price. The truth is MGTI makes matter regardless of what the price of BTC does. Price goes down, difficulty goes down and they mine more coins. Price goes up, they sell the fewer coins for more money. They can mine whatever is most profitable which makes them a hedge in the Bitcoin Core vs Bitcoin Cash war taking place. (BCH wins. Its happening rather you like it or not)
MGTI is a long term buy -- but you can buy shares a cheaper price in the coming days.
Good luck!
