This coin has been trading sideways for quite sometime but as you will see on the below it has never been into oversold regions which is just a sign of this coin consolidating.
The longer these coins consolidate the higher they fly, this coin has enough momentum to break out any day and show us some great figures. I have kept targets quite conservative.
You will notice on the chart just 2 weeks ago this coin was been bought up and buyers have remained to beat the sellers, running up in the 60’s over the past 4 days yet we haven’t had any real price action, these are signals we want.
I buy these coins aggressively rather then waiting as with this momentum the coin isn’t about to plummet, we may continue to trend sideways for a while but very soon we will see a nice breakout.
Conservative entry wouldn't buy until we have closed over target 1 as you will see there are aggressive sells at this price but once we beat the sellers it will be a quick trip up. As mentioned I have bought already as I like the chart.
You can set your stop loss below or on the black line, targets green lines, don't expect this to happen instantly but do expect it to break.
Cash Is King!
We have a resistance at target 1, you will see there has been sell off's here in the past when we break this barrier we would have a very quick trip up.
Volume is increasing on this coin fast which is a great signal.
We will wait and be patient, but each retrace has been bought up very aggressive.
Put this trade on hold while BTC breaks next support.
We can buy lower into this trade on the dip but currently there has been a sell off of over 120BTC out of MTL already and we should see a good drop in price.
I will update entry then