If you recognise this as the M for Motorola it sounds a bit as if your new e-recovery got corrupted or overwritten as you tried to boot into it.
Please flash the recovery again and think how to avoid letting the phone do “as it would expect” a normal shutdown and reboot cycle; this will overwrite the new recovery!
The trick is often to kill Fastboot mode and as the screen goes black very quickly initiate the “boot to recover” procedure; often button presses. Sometimes there is a menu method, I don’t know the device.
Maybe might help to read a guide for a different device, Samsung Your first boot into the custom recovery.