For $MTL, that signal is close and might very well arrive today. For that to happen, the candle has to stay red today (so needs to close below 78000 satoshis) and close below the 31 oct candle which closed at 102000 - but closing below 78K meets that requirement automatically.
If it does not reach countdown 13 today, the next signal could appear tomorrow, but then the candle close below the 1 nov close of 70000. Failing that, it might go down towards 60K. Notice how the is increasing strongly - it's a good sign.
Either way, you're pretty good. If it closes above 78K today, the 13 count is not completed today but at least you're up compared to the current level (about 70K).
It's also very well possible that the 13 count does not appear, but for that to happen a sell signal has to appear and the chart needs a strong upwards momentum for that to happen. And well, who doesn't like a strong upwards momentum :)
Notice that the price of MTL at the time it entered the market (july 9th ) was 60K satoshis. We're close to a full retrace and likely to start Wave III .
Disclaimer: I only started using the indicator recently, and this is the first perfect setup I found. Trade at your own risk.
I'm using the indicator from Jan WillemDe Korver on this chart.
(There's an additional requirement that Countdown bar 13 can only appear if it closes lower than the close of Countdown bar 8, but since that bar closed at about 140K, that criteria won't be a problem).
Looking at the weekly MTL chart, we're on bar 7 of a 9 bar Buy setup.
Based on this I'm still bullish but I'm estiamting that it will take a bit more time. Which also means that the price is likely to drop some more.
That about the weekly chart I mentioned above? Well, this regular TD sell setup works as long as a candle closes lower than 4 candles earlier. This means that candle 9 could go all the way up to 114000 and still be a valid 9 candle. Will it happen? I don't know. But the weekly chart does not prevent a solid run-up from here.
I lowered my position in $MTL for now, aiming to buy back a bit lower. I'm leaning towards BTC reaching a new ATH before the segwit2x fork (which is cheduled for 8 days from now) which will drive $MTL prices further down towards 63000 levels or maybe even to 61000.
BTC will likely make a significant correction before or right after the fork and after the fork some bitcoin will flow back to alts, inclusing metal.