$MTL heading to strong buy signal

BITTREX:MTLBTC   Metal / Bitcoin
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The Demark indicator is telling us that $MTL is shaping up for a huge move upwards. I will not go into details explaining the indicator ( Google it), but on october 7th, Metal reached a perfect TD Buy Setup. That triggered the TD Buy Countdown timer. If a candle is red and closes lower than 4 candles ago, the countdown increases. The countdown does not stop even though days in between do not meet this requirement (except when a sell setup appears, but that's not the case here). When the countdown reaches 13, it's a very strong buy signal.

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 volume is increasing strongly - it's a good bullish 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 DeMark indicator recently, and this is the first perfect setup I found. Trade at your own risk.
I'm using the Demark indicator from Jan WillemDe Korver on this chart.
Komen: I noticed my chart says "countdown 13 will be reached today". That's not true. It seems likely but as I wrote above, there's no 100% guarantee it will happen.
Komen: Sorry guys, I should have read up on the DeMark indicator a bit more. I missed an additional requirement for CountDown 13 to appear: according to the DeMark indicator, the close of the bar 13 has to be lower than the low two bars earlier. Since two days ago the market reached a low of 61000, and it's unlikely that today will sink to that level, the 13th countdown cannot appear today. It's called a "deferred thirteen". Multiple deferred thirteens can occur before a true CountDown 13 is reached, so it could take several days.

(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.
Komen: Very strong bullish signs all over. Looks like both the TD9 as the CountDown 13 will be reached today. There's a buywall of > 44 bitcoins at 65000 on Bittrex. I bought some already to be sure but placed buy order just above the above that.

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.

Komen: $MTL is working towards a resistance level. Positive if it breaks up (though I'm not calling a definitive bull market yet), but if it breaks down the solid green line, it could test the dotted green support or maybe even 60000-61000 support tomorrow. Don't be afraid if it does, just watch it carefully. The 60000 support is a very important one.

Komen: Welll.... that was quick. Expecting a retrace next hour. Could veryy well be testing the dotted green support again.
Komen: Meant to post the chart as well:
Komen: $MTL broke down the green support, mainly because BTC turned bullish again. Notice how the price correlation between BTCUSD and MTLUSD is negative:

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.
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