Price breaking back below $0.79 indicates further that the recent upside is corrective. This means we should see another impulsive move to the downside.
Price action from June-August is clearly a 3 wave corrective move. $0.36 would take us to the next clear price support level from the high of the wave 1 of smaller degree.
Definitely would be a great buying...
*THIS IS NOT FINANCIAL ADVICE*
My first attempt at using the fib retracement tool so this could be wrong, but feels right!
The price found support at the .77 range and broke resistance at the .92 range.
MACD & RSI look good, still not completely overbought and macd appears to have momentum
MACD & RSI look ok, price is finding...
We want to always minimize losses as traders, thats why we will take our time to find where we should enter the crypto at to gain the most percent.
Here is what I see forming when looking at the Fibonacci price channel that is forming right now and how the crypto is falling right out, but we must follow it to the bottom.
Mana's looking good on a 1-Day timeframe. It looks like it's having problems getting past 1.15 resistance! but it is still inside the ascending triangle and building support around 1.02 - 1.06 area. Do you think it's preparing its UPSIDE BOOOOOM? Hit a like if you agree!
Previous break up was $0.40 cent run up from $0.80 to $1.20
If mana repeats itself the same as last time it will go from $0.92 to $1.32 as a $0.40 run up however past result arent reliable for predicting future results.
what we want to see is a close above the red line and then on the second candle, we want to see it also close above the red line. what would be even better is if the second candle tests the red line and uses it as support, closing above or on it. A close below the red line on this 6h candle or the next 6h candle would cancel this trade idea (until it closes back...