MTL to 32.5K sats for a true bottom

Here MTL has broken the daily trend, retested from the downside and is making progress towards a new bottom to reverse from. The recent low is unlikely to support it again. A close under 42k is likely to lead to an acceleration towards the bottom setting up a strong reversal into a new trend. The next logical call for the bottom is at the Fib line near 32.5k around the all time lows on this chart, although there are scenarios where the price falls even below this low level.

For all the Bearish indications on this chart MTL is one of the better projects in crypto with all of its major catalysts in the relatively near future. Therefore this is a chart to watch. My suggested entry occurs after the formation of a strong reversal on the candle on the daily chart, although starting a bag of MTL at 32.5k satoshi can only work out well in the long run.