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MANABTC trade ideas

MANA/BTC - 3/19/2018Good Morning, Traders! MANA may be in the process of an upward sloping head and shoulders pattern. The neckline was formed with about 4 points and it is now in the process of forming its right shoulder. The current price just tested the resistance level at the 61.8% fib retracement which may have formed the right shoulder already. The volume that is seen during the formation of this shoulder (if it is complete) is not a significant amount and therefore may hinder the effectiveness of the breakout. The breakout is expected to last until the price of 0.00000829, this is measured using the distance between the left shoulder and the neckline. If the right shoulder hasn't completely formed, the formation of the "shoulder" may not be relevant at all because, at that point, the price may just be traveling at an upward trend (the "neckline"). The price touched this line once before the formation of the first shoulder and may do so after the last shoulder, ruling our head and shoulders pattern obsolete. Important Resistance Levels: 1121, 1061 Important Support Levels: 968, 838 DISCLAIMER WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK. CONFLICTS OF INTEREST GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN. Written by: Arham Bheda Senior Research Analyst
Short
by EQBM
Potential MANA/BTC Elliott Wave (5)Hi all, Just a quick idea of a trade here: MANA has been correcting recently after its crazy 44% rally on 15.03.18 and I believe that we may have reached the bottom. We're currently situated on the 78.6% retracement level of said run and all the indicators have aligned on the hourly chart. These include a golden cross on the MACD, oversold Stochastic readings, a low RSI with a small bullish divergence (span of 12 hours). I have published the chart zoomed out so you can see where I set my support and resistance levels and how the price reacted with them (a dip below previous highs of 1140 on Wave 3, caught by the top of the triangle at 1050, and we are sitting now at the triangle's floor/apex). My main target is calculated using the Elliott Wave guideline which states that the first wave is equal to the fifth wave when the third is abnormally large (in this case we exceeded slightly the 161.8% Fibonacci extension). With this trade, however, I will be waiting for a confirmed breakout before jumping in, due to the risk:reward being too low (2.08) with my stop loss down below the beginning of the third wave.
by ExpertFuture
I'm Sorry MANA But You Need To Sit DownCurrently MANA is trading at the top of it's channel which will likely produce a downtrend. Because BTC rules the market and I am expecting BTC to continue to go down, alt coins will follow. You can see on the 4 hr chart that two candles have long wicks touching the top of the channel. This means many sellers are in that area and not enough buyers. I plan to buy in at the 50, 61.8 and 78.6 Fibonacci levels as it comes back down. Always set stop losses to minimize risk in the event that it doesn't bounce. I don't expect these bounces to be very large, 5% max. But small profits add up.
Short
by bensonwithin
Yes Another Profit Delivery.....Don't bother reading this unless your interested in making some cash. Here you can see on the daily chart Mana has clearly broken out and looks strong, we have great momentum, volume is returning and we have all seen this coin move in the past. Now if we go down to the 4H charts you will see the 200EMA just coming under the price not only will this provide good support its the signal we want to see to confirm the move. We have a good bullish divergence on both timeframes showing that we have momentum to move through the next resistance. The stop loss will be set on the black line displayed on 4H chart and targets are the green lines. Enjoy this trade, its a safe trade we have a stop loss more upside then downside this is what we look for. Cash Is King! Profits all day everyday!
by Cash-is-King
3
MANA/BTC - Consolidation Support Bounce (20-30%)MANA/BTC has established itself in a consolidation period since mid-Jan, and has therefore developed strong areas of support and resistance. The price on the higher time frame is entering the support zone, and the lower time frame is providing multiple signals that bulls are re-entering the market and gearing up for a test of the resistance zone. If this happens we should be able to pocket a 20-30% trade. Remember, the safest trade is to monitor the lower time frame chart for confirmation of an upward movement, and only enter once that is also reflected on the higher time frame. If you're a higher risk trader you could look to enter now, but be aware that there isn't much preventing the price dropping 25% if this support area is breached. I'll keep updating the trade as it develops, and I'll try to provide a definitive entry point once it becomes apparent. But it could develop fairly quickly, as it looks to me like bullish action has been building up quite strongly, so be sure to monitor this one closely. Cheers and good luck, RJR
Long
by DreamsDefined