MANAUSD trade ideas
Almost done with the right shoulder completion. MANA imminent. As I’ve stated across the board, MANA, like the rest, is currently perfectly drawing us a Head and Shoulders that spans quite some time. We are nearly to the last burst upward to 2.8-3.0 before the waterfall. Set stop losses. Do your due diligence. This is not financial advice.
MANA OUTLOOK 1-30-2022So we see mana has been dumping along with all cryptos and my thoughts now are that we are accumulating a whole lot of buy orders in this area we are ranging in to then accumulate to then distribute to the down side to fill the imbalance we have before going bullish again but there is a possibility we could sweep lows at .58 cents but i dont think it will happen, we could see a rejection when we come to the imbalance we have marked out so im going to wait for what information we can get these next few days before stacking some MANA.
Minor retrace to support?This chart reviews how we got to where we are today. The Inverse H&S reached its target then dropped to the Fib .382. I put my buy at the .5 Fib. slightly panicked, all for not. From last week's low to the .382 Fib, a new baseline has been drawn. MANA has formed a symmetrical triangle and broken out and is forming a smaller one now. There could be a short-term trend change forming in a bearish ascending wedge (BLUE) that would have a target, not coincidently, at the RED support line. I am keeping an eye on 3 moves.
1. breaking the upper BLUE line and continuing with the ascending channel...or failing and returning to RED line, wherever that may be.
2. breaking the lower BLUE line, finding support at the lower GREEN ascending channel and continuing higher.
3. breaking from the small triangle that is forming with a target of $2.50, which, not coincidently, lines up with the center of the GREEN ascending wedge.
4. This is not financial advice.
DecentralandDecentraland (MANA/USD) just made a bullish cross SMA55/SMA233 on 1/29 at 5am 1hr chart. It did a bullish reversal since 1/22 at 5am with a double bottom bounce on 1/24 at 5-7am. Fibonacci VIP has been consolidating for 36hrs likely pointing to "Hodlers" positive impact on the price action. Here's levels on the 1 hour chart, 1 week view:
7 day high = $2.40
7 day low = $1.71
52 week high = $5.90
52 week low = $0.15
SMA233 = $2.24
SMA144 = $2.15
SMA89 = $2.24
SMA55 = $2.27
breakout = $2.64
R3 = $2.57
R2 = $2.50
R1 = $2.43
pivot = $2.36
S1 = $2.29
S2 = $2.21
S3 = $2.14
breakdown = $2.07
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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7pt Trading compass:
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MANA 15 min charting patterns. Quick time frames.Trying to bring the fractal patterns all the way down to the lowest point. It is amazing the percentage of major transactions to minor transactions and these fluctuations. This is the adoptive strength governments are concerned about. I say We might be moving to a world where countries are defined by the price tag
and the service. It's 2022. Why squabble over land and religion. there is plenty.
Process of Elimination...Mana moving up!Yesterday MANA was showing three potential paths upwards, all ascending channels. Now we can eliminate the Blue and Pink channels, left with the green. WARNING: Should MANA hit $2.04 before rising to $2.28ish, I am keeping an eye on a Head and Shoulders pattern that would have a target back down in the $1.80's. Kinda hopeful for that because it would make a great trade...but not financial advice because it would be, in my opinion, a very risky trade. So, I have alerts set at $2.05 and $2.25, will reassess when one of them goes off. My hunch is that there seems to be enough support, leaving wicks on lower time frames, at the bottom of the channel (around $2.10 at the time of this analysis). Good luck. The Fed. seems inconsequential for the month ahead. BTC is still flirting with the $35k range.
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MANA in the 2nd wave till the end of Januaryit is on the $3.51 support but has the potential to lose this support. it could have a fake break of $2.3 to $1.6. the fake break of $37 is possible in the 3rd wave till $60.
crab harmonic pattern:
X=$6.48
AB=0.38 XA
BC=0.38 AB
1.6 BC=$1.61
2 BC=$2
2.24 BC=$2.36
2.6 BC=$2.97
0.78 XA=$3.51
088 XA=$4.68
3.6 BC=$5.47
4.23=$7.98
1.13 XA=$9.4
1.27 XA=$14.11
1.41 XA=$20.94
1.6 XA=$37
MANA, rising from the bottom.The following content is machine translation:
In the 4-hour chart, the lower shadow line stopped falling and rebounded, and when it was blocked, it rebounded near the lower shadow line and broke through the small resistance.
MANA belongs to the Metaverse Dragon.
Operationally see more, target 2.8-3
Inverse Head & Shoulders or ?...MANA is completing an Inverted Head and Shoulders pattern with a price target of +15% (around $2.44). It should follow the Green ascending channel as it makes this rebound. It won't make up for the recent tank, but at least it is in the positive direction. Will it hold? We shall see. If MANA doesn't break out as the pattern indicates, I assume it will continue consolidating between an ascending channel between $1.87 and $2.30 as seen in the Blue ascending channel (or finding support around $2.07 and consolidating between that and $2.20 as shown in the Pink channel). Keep an eye on the 50MA in relation to the 100MA...they're beginning to flirt a little bit with only 1.8% separating them. We do not want to see them cross over on the daily chart. On shorter time frames, this relationship looks a lot better. Since there has been an extended downtrend, it is only natural that the 50MA and 100MA are getting so close. MACD looks fine and of course, the Stoch RSI is rock bottom, which indicates less selling pressure.
In the end, it all comes down to BTC. BTC is not forming an Inverted H&S but is moving in a positive direction. I am keeping an eye on BTC breaking $39k. Should BTC get rejected there, besides the normal resistance, BTC will continue forming a bearish ascending wedge, giving BTC a return to the $31k range, undoubtedly dragging the market with it. Sit tight as finding support at $29-$31k is healthy and has been expected for several months. Should BTC break $39k, the next level to break is big @ $42k. I would actually prefer to see BTC test $35250ish first, creating more of an ascending channel versus trying to break out of an ascending wedge. This isn't financial advice. Good luck. Also note that MANA will sometimes break away from BTC for short periods so this short-term potential 15% increase may not be affected should BTC explore $35k. That being said, what BTC does between $29k and $31k will definitely affect the overall market. If BTC bounces, so will MANA, if it loses its footing at $29k, I anticipate MANA dropping to $1.25 or even lower to around $0.95. Again, not financial advice, just what I am reading from the chart for a potential short-term recovery, including an equally realistic path to lower numbers.