Metis reminds me of averaging into a value stock at this point, albeit more volatile. The overall trend is definitely up, but with extreme leverage in play. For longer-term minded holders this demand zone is a great buying opportunity. For shorter-term traders this offers a great spot for swing trades utilizing other metrics.
Short-Term: If I were playing this short term I would be shorting this to 74-72$, I expect another revisit to the bottom of the demand zone (red dashed line)
Long-Term: Averaging in between 72-82$ over several weeks. Eventually we will retest this green Fibonacci, and thus my target of 143 which we have wicked to. There is very little resistance past this point, then onwards to 235$. Expect turbulence and fear in the coming weeks though. Some major scam wicks/brutal blood is on the horizon I feel.
Short-Term: If I were playing this short term I would be shorting this to 74-72$, I expect another revisit to the bottom of the demand zone (red dashed line)
Long-Term: Averaging in between 72-82$ over several weeks. Eventually we will retest this green Fibonacci, and thus my target of 143 which we have wicked to. There is very little resistance past this point, then onwards to 235$. Expect turbulence and fear in the coming weeks though. Some major scam wicks/brutal blood is on the horizon I feel.