Metal underbought considering RSI. Addional almost at all time low. 2 support levels close. Upward trendline and resistance show about 300% Profit. Volume is going up as well.
Bittrex delisting Jan 12 is shaking confidence in the day traders, but I'm seriously holding MTL long-term. It looks like a legit coin with decent backing and I'm ready to ride this out for another 1-2 months if need be. Just saying I wouldn't let the negative news get you down if you hear it. You'd be selling at a loss when at least this amateur trader expects it to go up long-term.
JCmanner
⋅
@netrin, iota still hasnt recovered from the FUD surrounding the microsoft partnership, MTL is getting delisted, it could take months to recover just back to previous levels, those are months that other alts are going up 48%, 300%, etc daily, you can hold till the cows come home but the opportunity cost you are missing out on is enormous, good luck
netrin
⋅
@JCmanner, You make a very good point. What I'm looking at is sunk costs. The question I'm facing is whether to eat a 50% loss on a huge investment or wait it out. I suppose that depends on whether expected growth after taking the exit funds and moving them into several other coins will more rapidly recover the loss from MTL and lead to profit elsewhere, compared to holding out for MTL growth... hmmm...
netrin
⋅
@JCmanner, Update: thanks for getting me thinking more about this. Decided to bite the bullet and sell 50% of holdings at a loss to re-invest in faster-moving currency, while holding the other 50%. At least this will help spread the risk. Cheers, N.
JCmanner
⋅
@netrin, thats a tough decision indeed, I had a decent investment in MTL myself, but as soon as I saw the news I knew the decision I had to make, I might take a look again in 4 months, that's a huge "might"
netrin
⋅
@JCmanner, Yeah. It turned out to be a good choice, I think. Surprisingly I've already recovered much of the loss (thanks XVG) and am now better diversified. MTL seems like a good project so I hope it comes back in a few months. Wishing you the best in your trades!