MANAUSDTPERP is a highly speculative crypto.
As we can see in the chart we did get a bullish engulfing 4 hourly candlestick that bounced out of the macro demand zone. This is indicating that the trend is about to change (bullish). Around this area I entered a trade with 5x leverage. Price pushed upwards and after that it started to consolidate. I believe that the price eventually will make a move up to the macro supply zone. The consolidation pattern also has more touching points to the top indicating that it wants to break out there. To stay on the safe side I moved my stop loss to about break even. The last thing that has happened in the charts is that we can see weak bearish candlesticks with long wicks. This is a sign that the bears are losing control and that the price is ready for a push upwards.
As we can see in the chart we did get a bullish engulfing 4 hourly candlestick that bounced out of the macro demand zone. This is indicating that the trend is about to change (bullish). Around this area I entered a trade with 5x leverage. Price pushed upwards and after that it started to consolidate. I believe that the price eventually will make a move up to the macro supply zone. The consolidation pattern also has more touching points to the top indicating that it wants to break out there. To stay on the safe side I moved my stop loss to about break even. The last thing that has happened in the charts is that we can see weak bearish candlesticks with long wicks. This is a sign that the bears are losing control and that the price is ready for a push upwards.
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The blue horizontal line is where I moved my stop loss
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I actually ended up taking this position in some decent profits to make up for some trades I lost