MANABTC trade ideas
MANA showing an H&SMana is one of my favorite projects. With the BTC dip in the last few days, MANA has retraced and touched its short term support. There appears to be a head and shoulders forming. I am expecting a drop to support around 920. If the shoulder leads to a further drop, next support is around 570. A drop to this level is unlikely.
Confirmation after this daily candle closes red.
This would lead to a nice entry point.
MANA/BTC SHOWS POTENTIAL SIGNS OF HEALTHY AND POSITIVE ACTIVITYSeems like MANA might have finalized its bearish cycle and
will be breaking out at .618% FIB retracement from its peak
on January 17th. Based on thecurrent 10-day resistance
level seen at .0001251 , I project a breakout heading to
previous peak between .00001388-.00001400 -
If this new resistance is broken, our next target according
to the channel in which the asset is navigating at the moment
would be no less than .00001590 according to Elliot Wave rules
of application.
DecentraLand MANA ForecastSpotted an Elliot Wave on 2 hour chart. ABC patter is present. MANA seems ready for another go.
From my end this is a blind prediction and it may not reflect what I've draw due to many factors.
However I am hopeful of the outcome. Also provides an opportunity for swing trading. Take into consideration candlestick patterns and support/resistance positions. Furthermore plot trend-lines, include Stochastic Oscillator & RSI and it should be fairly easy from that point.
I combined Elliot waves, fibonnaci and harmonics pattern to arrive to a conclusion. I did not clutter the chart and decided to plot the Elliot Wave only for simplicity.
Like I said this might be a long shot however everything is possible. This EXACT pattern occured between 16th - 14th December 2017. History has a habit of repeating itself!
This is not an investment advice, always do your own research.
MANA wave 5 start for abount 200% profitThe last analysis I was wrong went I view on TF 1hr.
This is TF 4hr, I see MANA in wave 3 and down to major support (the peak of wave 1). So, MANA had been completed correction phase and then MANA being wave 5 with possible target about 2700 (200% profit from wave 2)
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