Technicals:
MTLBTC is currently in consolidation inside the supply zone that lines up with the 1 Fibonacci level. This consolidation is not going to last long and I don’t think it has much more room for bearish movement.
MACD looks like it has room to support upward movement.
Volume has slightly picked up.
RSI has started movement upwards.
Fundamentals:
I think Metal is reaching a good market, as I believe one of the biggest barriers in cryptocurrency are inconvenient spendability.
I think if I were to pick the top crypto-card company, it would probably be Metal.
There’s some good news coming up within the next week.
Notes:
Buy: 70000-80000 Satoshi
This is a Low Risk:High Reward Trade
Potential Gain: 78%, 112%, 146%
Potential Loss: 16%
Stop Loss: 62000 Satoshi
Complete trade at:
http://thecryptolabs.com/index.php/2017/11/11/trade-mtlbtc/
Disclaimer:
This is based on technical analysis, an analysis methodology that forecasts direction of prices through the study of past market data. This will not always be correct, but we only recommend trades that are in your favor.
This is not investment advice.
Always use stop-losses.
Only trade / invest what you can afford to lose.
Remember, the markets have no sympathy for anyone.
