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The chart said Bullish for MANAHi guys! I hope you guys took advantage to buy some more when it was dipping in the past 6 days. With the previous history data for the MANA chart, All bearish downtrends with a breakout would most likely guarantee a strong bullish movement to break the previous ATH. If the previous ATH is at $4.9, the MANA price would drop as low as $2.2 which is 55.1% of the original ATH and a strong Bullish movement started to take shape as we have seen in 4 consecutive movements (1,2,3,4). The Current ATH is $5.89 which would lead to a drop to $2.5 which is a 57.6% drop from the original ATH. This is way lower than the percentage of the previous drop which was supposed to be $2.8 (the RSI shown unprecedented bottom in red circle). I think this is caused by the BTC effect, which would facilitate the dip back to the original affordable range for more accumulation within 1 bearish movement instead of 2 movements. The question here is that would the market psychology agree with this flash crash or would it require a longer sideways before it can break the trend? Most likely I think it has already broken the trend, however, we still need to see the leg of this parabolic curve (labeled yellow). If the leg is much lower than the $3.3 then most likely the trend would try to retest the $2.8 range which is correct with the trend without the BTC effect. However, if the leg is much higher than $3.3, then we are most likely seeing a very strong breakout for the next Bullish run! Remember to be fearless when people scare and be scared when people are greedy! This is not financial advice but my perception of the current market movement!
Long
by Haizsama
CUBE Somnium Space Cubes Upside Coming?Hello friends, today you can review the technical analysis on the 4H linear scale chart for Somnium Space Cubes ( CUBEUSD ), an altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Somnium Space Cubes price has been in a Triangle Pattern since early November 2021. The price broken down from the Triangle during the recent crypto crash, but with a Double Bottom pattern, the price is making an attempting to get back into the triangle and move upwards. 2) There is also a Rising Broadening Wedge Pattern also noted with the red line forming within the triangle pattern. 3) Taking the Fibonacci Extension from the last high to the last low, the 1.618 level (Golden Ratio) is at $27-$28, which would be the estimated target price. 4) There are two checkpoint areas where a re-test may need to occur around the 0.5 Fib Level at $17.50-$18 and another one around the 0.786 Fib Level at $20-$20.25. Having a re-test of the triangle will help strengthen the price movement upwards. 5) The RSI ( relative strength index ) has a resistance trendline (in orange color) which it may need to break for a nice pump upwards. 6) The Volume is picking up but still low, so if a pump may be coming, keep an eye on the Volume. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
GEMINI:CUBEUSD
by MillionaireEconomics
2
MANA Bearish and be fearless when people scareWith the Houbi and recent ban of crypto in China, MANA price is being affected and might go bearish for quite some time. I suspect it can drop as low as $2.4. Again, it is not the problem of MANA, but I think it is the effect of BTC dropping and potentially dropping further if BTC is going sideway. This is a good opportunity to keep buying as the price goes down ward further to maximize the token number for the next bull run! This is not financial advice!
Long
by Haizsama
1
Macro bullish - but a couple weeks of slow grindIt looks like we're about to close this week with a HL, which is macro bullish. But reminds me a lot of the may crash. We put in a HL, then grinded down for the next few weeks, until we finally hit support after wicking to 29k. This is where everyone was screaming bear market. If I had to guess, we grind down to as low as 37k, where everyone will once again be screaming bear market, before pumping up. As long as these are just wicks, and we don't get any weekly closes below 42k, I remain macro bullish. Remember, on the bright side during the May-June weekly grind down, this is when NFTs were popping off. My theory? Find a narrative and play it. Keep in mind you'll have to find undervalued coins with this narrative. Current narrative I'm looking at is L2's and Metaverse (Infrastructure, not P2E games). Probably 2 months of grind down (if I'm correct) and then a pop off late Q1-early Q2 of 2022.
COINBASE:BTCUSD
by Kekwiththat
TrendTracers Weekly Market Analysis #14TL:DR Review last analysis Being conservative was the right play regarding the recent dump, since the worst case scenario happened. Price broke through the first major area of support and tested the second one faster than we anticipated , we took some losses because of that unfortunately. Conclusion Well, the market gave us a nasty crash last week which definitely changed some dynamics in the market. BTC flipped to the bearish side while ETH is still showing strength to the upside. Midcaps are still not interesting but some shitcoins might still be worth it for the short term. After big moves like this it’s a good idea to take a step back from the market and look at the bigger picture to forge your plans. There is no need to rush into anything based on the charts. We will keep you updated on further developments in the discord. BTC Bitcoin broke through the major area of support and tested the 40-43 area. The buyback is promising but we are still below the 53k resistance. As long as the Weekly candle doesn’t close above the 53k level a retest to the 42k area is likely. BTC.D Crypto in general had a very “red” week, interestingly BTC.D went down by about 2-2.5% this week . This correlates with the strength ETH is showing in the charts. If the BTC.D breaks down below 40% we can expect the chart to make new ATL for the first time since 2018. ETH Ethereum never closed below 3800 and it looks like ETH will close above the weekly baseline this week which is very promising. ETHBTC is breaking out of it’s Bull Pennant and is moving towards our predicted target from last week. This in combination with the fact that ETH, for the first time in history, having a market cap over half of that of BTC is a very strong outlook for Ethereum’s near future. Long positions will be on our agenda If ETHUSDT closes multiple daily candles above 4500. USDT.D AND DXY USDT.D reacted off the 2.5% low ,instantly testing the top of the range at about 4%. Right now it’s hard to tell if USDT.D is going up or down in the near future because it’s in the middle of the range between 2.5% and 4%. The break out of this range will help us determine the longer term trend of the market, so we will be watching closely! DXY didn’t do that much, we’re still waiting for a break above 97. Otherwise the DXY will probably reject and retest the 94 area. ALTS MIDPERP failed to finish the ascending triangle pattern. Last week we said that we wouldn’t be bullish unless it closed above 4300, it never did so this told us we had to stay out of the Midcaps. MIDPERP broke down of the pattern and tested the low from July earlier this year at 2600. There is no reason to be bullish on the midcap until it starts closing above 4k again. SHITPERP rejected from ATH and made a good pullback to the Baseline and previous support around 6200 finishing with a nice buyback to the 8k support.
Long
by dab1rd
1