madmax1000

madmax1000

There are hints that the sustained downtrend in MANA is coming to its end. 1) We formed a strong weekly support. 2) This level was broken near the end of 2022. 3) However, there was very little supply around those low prices, and price quickly broke above the level again in early 2023. 4) Not only did we break that significant support/resistance level, we...

madmax1000 Updated 

We're reaching the top of a very well-respected parallel channel. This top also aligns with the Fibonacci golden pocket (in yellow), providing extra resistance. Price wicked above the golden pocket, trapping some longs. I'm expecting a reversal to the lower golden pocket (taking profit along the way). Price and volume are diverging. This is a sign of...

madmax1000 Updated 

We're currently well above the VAH (blue dotted line). BTC has failed multiple times to break through the top of the horizontal channel. These are signs of weakness. What's more, on the above image, you can see a wick above the channel on high volume, which means a lot of longs have opened at the top. Right after, we see a rejection on high volume. This means...

madmax1000 Updated 

We're potentially forming a horizontal channel. A lower high is formed, which provides a short opportunity. There was strong volume during the most recent uptrend. However, at some point volume completely dropped off. This could signal a reversal, as there is apparently no liquidity at these levels. What's more, this drop in volume happened exactly at the...