Setting up perfectly. To break $5 next?I love this chart and should thank the mana market for making me look good. One thing I like about charts, especially for beginners, is that it settles one's nerves. Tokens drop, a lot, but a chart is a good way for beginners to see the map and not panic...because it is anticipated. I always emphasize to beginners that there are no straight lines, up or down, in trading. And most importantly, don't panic. If you are panicking, you are probably risking too much capital and it is an indication that you are emotionally attached to your trading. I've never been divorced, but I hear emotions will lead to losing 1/2 your money.
You can see this chart from the other day is filling in, perfectly, even as a function of time, relatively. I just circled (red) all the handles. The current one is making the perfect triangle for the next leg up. One thing to note with low volume: triangle (handle in this case) may turn into a short-term descending channel before breaking out...they scare me a little because they can sometimes turn into a trend reversal as a result of the lower volume. I put the descending channel in light blue just to show you what it "could" look like. I am ignoring it for now. These are just ideas and not financial advice.
Lastly, to new traders and tweakers: Be careful. If you are investing and not trading, don't look at the chart every day...you'll go crazy. If you are learning to trade, don't use real money and practice first. There are sooo many methods to charting: E. Wave, Triangles that form ladders, Fibonacci, Clouds, etc...they are all analyzing the same data and for the most part are predicting the same end game. It is important to use several methods as a means of "confirmation" of ideas. The more support for an idea gives the idea more credibility. The cups are shapes of movement, whether the patterns are H&Shoulders, wedges, etc... I choose to illustrate with them because of their sexy curves.
Manausd
MANA consolidation phase in 1hAfter checking a couple of timeframes i found som key points in chart, even that we can see 2 rejection attemps in bullish moves so for now we can just wait for "zona de compra 1, 2" (buy zone 1,2) on order to have any earnings in a LONG but again we need to wait because consolidations can broke your LONG/SHORT position.
MANA 30% move incomingHello all. There is no major change in mana chart since my last update so i will keep this short.
Mana has formed a symmetrical triangle which is more vivd on the 4hr chart. This pattern has equal chances of breaking upside or downside. The apex of the triangle is very close, and will break on or around December 10th.
Depending on BTC's performance, Mana will either break up towards the fib golden pocket, or retest the previous low.
But what an over sold RSI we have on the daily. Makes me want to open more longs.
Mana also trades above the purple resistance line of the descending channel and above the 50 day EMA.
I see equal chances of breaking upside or downside so be cautious on this one.
Check out my other charts on mana if you missed my previous updates.
Thanks for reading, and stay tuned. Enjoy.
MANA - why the drop happened?It's Black Friday coming to the market today. A lot of coins lost more than 10% in just a few hours. So many people were asking when to buy MANA and SAND. On our platforms, we warned against buying these coins.
At the very top of the chart, a head and shoulders reversal pattern was formed. Behind the rules, opening a position after a breakdown and the target is equal to the height of the head. Based on the rules, the price can reach the lower liquidity area.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
Watch out! MANA is forming a rising wedge (Bearish)BINANCE:MANAUSD is forming a rising wedge which typically has bearish implications. If it breaks down from here and gives a daily close below the lower channel line of the wedge then prices may potentially fall below 2. No harm done till the channel isn't broken on a closing basis. Keep an eye!
Russian Dolls, cont......With their accuracy, they should be more like Swiss dolls. I put this idea out there yesterday...so refer to that. I had indicated on yesterday's post/chart, needing to adjust the idea to fit the chart once we dipped again because at the very least we had to dip to confirm support...just didn't know if MANA was going to go for the $2.80 or $0.75 zone. It still may, but based upon last night's low, here is where we are at. So far, the purple and orange are playing out. The dashed green line is based on the trend line from the ATH's. The crazy fib. was for fun...it's the extension from the previous Bull run. You'll notice these cups are pretty close and spot on for a couple...weird...but that's what made it fun. Crypto is fluid...adjustments all the time, especially when making short-term ideas. These are just ideas in which the 1st two have already played out since last night, not financial advice. There is no way to read this as a function of time.
MANA looking bullish. $5 next.Hello all. There is no significant change in mana chart since my last update so i will keep this short. You can read more in my previous post attached below.
Looking at MANA on daily chart, the stochastic rsi is in the over sold territory which is a bullish sign. Mana trades inside the ascending channel and can retest the top of the channel (resistance line) at around $5.9 which was is the current all time high.
Mana also manages to remain above the previous high over $3.5, and also above the 50 day EMA. Candle wicks indicate that mana gets bought once it tries pushing below $3.5.This means that mana found strong support at $3.5 and right at the 50 EMA.
Mana will reach $4 this week due to the bullish sentiment i see in the market.
Check out the link below if you missed the drop.
Thanks for reading, and stay tuned. Enjoy.
MANA - Double Bottom W PatternI waited a bit with posting MANA also considering the developments of last weekend. But situation is as follows.
Until the end of November, the Bulls has pushed the price considerably higher which we can see in the uptrend channel. As is known, the bears have recently indulged themselves. the bears came on the scene and stepped out of the trend channel and actually a Falling wedge was created which has brought a downward result in recent days. There, the bulls managed to absorb around $2.5 dollars and bring the price back above $3.25 in a short time.
Support appears to be holding at USD 3.25 for now. So from that perspective it can go two ways.
- if the bulls keep this zone, it is quite possible that a double bottom or W formation can be formed here. The ADAM formation there often has a peak as the wick shows and the EVE formation within the W pattern is often round. The story is that a larger volume decline at ADAM would suggest a good development in the upward price action.
- but if we lose the $3.00 then a further decline towards the $2.5 is quickly there again.
Keep calm, Do your own research! trade safe and manage your risk.
(Disclaimer: This is not a Financial Advise)
Dont forget to upvote or leave a comment ;-)
MANA Resistance LevelI believe that in the future MANAUSD price will break through the short-term resistance level and rise to higher prices.
Russian Dolls?Is that a thing? MANA, since the parabolic rise, has lost and gained based on C&H and IC&H patterns. One cup leads to another, kinda like those Russian dolls that fit inside each other. These are just ideas, not financial advice. The reason I published this is because the numbers add up based upon the assumption that the bottom is in and $3.52 is the baseline now. Should it drop to test the drop from the other night, I added that these formations are still valid, but will have a different baseline. That's not a bad thing, because with this token in particular, the bigger the drop, the bigger the rise. Should MANA (when) drop(s) below $3.52, I will adjust the cups for your ease of reference...but for now, based on the assumption MANA is going up from here, for now, these are my ideas, and the data does support these levels. I'm not necessarily "long on mana." These short-term trading ideas don't involve an ATH, just a recovery before a potential drop that I will tackle should the market indicate a need.
I see a lot of comments on other analysts' posts that are negative...chill out. Nobody has been rude to me yet, so let's keep it that way...not to mention, if you took my ideas and did your own research, you would've gained 36% when the market tanked 18%. It's not always going to work that way. They are just ideas and not financial advice. We read them for either confirmation of our own ideas, new ideas, or if you have no idea what you're doing. If you have no idea what you are doing, start reading and be careful. It is a very volatile market...and yes, some of the ideas are bat$4!t crazy.
MANA back in the falling wedge after big drop!Here's a quick Look at MANA 4 hr chart. As we can see, the price broke down from the falling wedge , due to the drop in BTC price, but is now back in the same falling wedge! Keep an eye on this falling wedge!
The best entry would be, when the price breaks above 4.25$ with good amount of volume .
-------------------------------------------
The idea is: Buy when the price breaks above 4.25$ and take profits at the levels shown in the chart.
Targets:
1. 4.65$
2. 5.2$
3. 5.9$
-------------------------------------------
What Is a Wedge in the context of trading?:
"A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts.
Key Takeaways for Falling wedges:
1. Wedge patterns are usually characterized by converging trend lines over 10 to 50 trading periods.
2. The patterns may be considered rising or falling wedges depending on their direction.
3. These patterns have an unusually good track record for forecasting price reversals."
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
$7 MANA still in playHello all and happy Friday. If you missed my last mana update and the trade setup, make sure you check the post below.
Looking at MANA on the daily chart we see that we are above the 200 EMA and also found support on the 50 EMA. (Both are bullish indicators).
The dump last night only played in our favor as it triggered all buy limits which we set according to the previous mana update.
Currently the stochastic RSI is in the over sold territory (Daily chart) which can push MANA price back inside the descending triangle.
I am looking to have a daily candle close above $4 which will keep us inside the descending pattern, and also above the previous ATH.
Closing around $4.3 or inside the Fib golden pocket at around $4.7- $4.8, will be extremely bullish for MANA, and for the short term we can see $7 price target which sits at 161 fib level. This will be a 100% profit from the current price.
Thanks for reading and stay tuned. Enjoy.
MANA is a meta-universe concept cryptocurrency I'm going to add it to my asset analysis group. Follow my ideas if you are interested in this asset.
Decentraland AnalysisDecentraland is on a corrective wave right now. These are our current potential buy levels. Like & Comment your thoughts.
Until Next Time.
MANA build up? This mana Chart is looking very similar to my past bull flag analysis I hade made!
How high do you think we can go this time?
Is MANA about to fall?After checking in multiple time frames black line its the next move ONCE it broke down the support IF dont broke the support we will have a consolidation phase.
The question here is... Once current support has been broken, whats the next step? so for now Im not sure about this analysis, then please dont follow as investment tip.
Decision time!Mana's indecisive candle is working hard to figure out whether to tank or keep fighting.
Mana to $7 or $3 first ?Hello all. Interesting pattern formation for mana both on daily and on the 4hr charts.
We have a descending channel which can play as a bull flag and put us around $7.
On the other hand, we have formed a descending triangle which is a bearish pattern. The measured move for this patter is approximately 35% which will put us at around $3 range. This level corresponds with the 50 EMA on the daily also with the fib gold pocket.
Definitely interesting to watch since we have bearish and bullish sentiment going on. Keep an eye on it.
Super bullish long term and buying more. Top of the ascending channel sits around $7 which we will reach very soon no matter what.
Thanks for reading and stay tuned. Enjoy.
25-28% Drop ahead?Measures towards 28% but I have had 26% on my radar for a couple of days...maybe just depends on where the flat bottom fails? Keep an eye on it. There is very strong support around $4.32, so who knows. These are just ideas and not financial advice. Unfortunately, not a lot of bullish ideas for today, especially since it failed earlier to reach a potential break out, falling short of $4.87 @ $4.82.
MANA USDT analyseIf Mana can hold the 0.236 fib line we could see a retest to 5,2$. As you can see at trying of the yellow line it got rejected. If Mana can't hold the red line, we will try to touch the white line. So currently if you hodl, buying is a good idea, but you could get better entrys, so maybe split buy orders!
MANA: HTF FractalHTF Fractal taken from previous price increase, when stretched so that the beginning of the run fits the beginning this current run, seems to be somewhat predictive so far.
Is this a crazy price target? Yes.
May it be warranted? Possibly...
MANA is now a direct competitor to 'META' (formerly, 'Facebook'). Meta's current market cap is ~880 billion. MANA's is around 8.6 billion.
If MANA had Meta's market cap (so assuming some scenario where MANA becomes THE metaverse, beating out Facebook /Meta and all other competitors), that would put MANA's price at ~$482.
Full disclosure: this isn't so much a serious possibility in my mind, at least not yet, I'm just posting this to see how this theory/ fractal pans out; mostly just curious.
