Metaverse ($MTA) is looking to push higher for a bearish retest

10 Okt 2020

Hi dear fellows

Let this be my first post. My name is Ivan, in this game since 3years+ and a scalper by heart.

I hope that this 34'' resolution of a screenshot doesn't bother you, just my setup and "broader" type of view. Everything's already in the chart, but here you go again:
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1. Initial daily low after listing left untouched
-> low was protected

2. lows swept, sell stop hunt
-> liquidity taken by smart money
-> instantly bought up & bullish follow-up

3. perfect bullish 0.618-0.79 fib extension into OTE
(optimal trade entry)

4. highs swept, buy stop hunt
-> former swing low broken to the upside
-> fakeout and back below weekly level

5. interesting area of accumulation here, still failed
-> market structure broken to the downside
and again, trapped FOMO buyers on this upspike,
rejection -> dump lower

6. daily level reclaimed
buy stops + liquidity zone right above
confluent with weekly level
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I think MTA #metaverse will have a leg up here to take the resting liquidity above either for
a) a further leg down as a possibility to fill shorts, or
b) to liquidate bears and create upside momentum/FOMO to go for 4.5-4.6$ and test our weekly support/resistance level