What is Metal or MTL cryptocurrency and Metal pay system:
Metal is a blockchain-based crytpcurrency system which utilizes Proof of Payments to identify users whether the senders or receivers,
The system rewarding users for converting fiat currency into cryptocurrency using MTL pay system.
It works just like Bitcoin and the MTL pay system has really a user friendly interface.
The Metal is just like a bridge to buy any other cryptocurrency.
Even The Metal pay system can be also an ice breaking thing between the people who or businuses who refuses to accep card payments system and believes in cash only transactions.
The Technical analysis of Metal coin's price action move:
On week chart the price action of MTL was moving within a pennant since April 2018 and now in the month of July 2019 it has left the pennant directionless without breakout or break down.
The Moving Average Convergence Divergence turned strong bullish in Sep 2019.
RSI was oversold in Aug 2019 and now turned bullish and moving up.
Bollinger Bands is squeezed indicating that the breakout or breakdown will be soon.
On day chart 100 simple moving average crossed down the price action and lifted the price up but the price is rejected by the 200 SMA resistance now the price action is retesting the 100 SMA as support during price correction period.
In the meanwhile the 200 SMA is moving down to form a golden cross with 100 SMA which can produced bull thrust more powerful than the previous one.
Now back to week chart the after placing ichimoku cloud we can see that brearish cloud is turned weak and squeezed signaling that soon it will be turned bullish and green.
Lagging span of ichimoku is moving sideways beneath the priceline and it can cross up the price line soon at any time.
Implementing the Fibonacci calculatiobn method on complete pennant from the tail upto the support of pennant gives us the result that the priceline of MTL / BITCOIN can acheive the below sell targets easily:
1st target: 0.00027 sats
2nd target: 0.00034 sats
3rd target: 0.00040 sats
Final target: 0.00050 sats
Regards,
Atif Akbar (moon333)
Disclaimer: I am one of the top author of tradingview and share my ideas there with my username moon333 this article / post is the result of my personal research and working. The information contained in this article is for education purpose only, this is not intended to be investment advice, so please seek a duly licensed professional for investment advice.