The MANA chart is looking textbook on the 4h timeframe. I am very bullish on the project and the coin.
The reversal on November 11th was a clear Doji Star and began our strong rise to the top of the channel at the $3.80 level.
November 13th to 18th showed a head and shoulders pattern following our initial breakout, a great bullish sign.
MANA broke the neckline on the retest following the pattern on the 18th but only briefly. Then proceeded to breakout to the top of the channel again.
Now we are falling from the top of the channel and looking for support. There are 3 key levels of support.
Support Level 1: Middle of the channel, also the 23% retracement level on fib.
Support Level 2: Neckline of head and shoulders, also 33% retracement level on fib.
Support Level3: Bottom of channel, strong previous support shown by wicks only reaching line.
Strategy: I am looking taper in and buy MANA at each support level mentioned above. *not financial advice
The reversal on November 11th was a clear Doji Star and began our strong rise to the top of the channel at the $3.80 level.
November 13th to 18th showed a head and shoulders pattern following our initial breakout, a great bullish sign.
MANA broke the neckline on the retest following the pattern on the 18th but only briefly. Then proceeded to breakout to the top of the channel again.
Now we are falling from the top of the channel and looking for support. There are 3 key levels of support.
Support Level 1: Middle of the channel, also the 23% retracement level on fib.
Support Level 2: Neckline of head and shoulders, also 33% retracement level on fib.
Support Level3: Bottom of channel, strong previous support shown by wicks only reaching line.
Strategy: I am looking taper in and buy MANA at each support level mentioned above. *not financial advice
