CryptoKraze here
In this post I am going to cover technical analysis of $Mana for Mid short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $Mana.
Possibility on 1 Hour Chart
If you look at 1 hour chart, you will see $Mana has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready. If we look at bollinger bands, the price has touched upper bands and now it has reached median line and break above is ready.
- I will have a buy entry at 0.00001300 with my profit target will be around 0.00001600 and 0.00001800 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Have a look on my other Posts
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If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis
Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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