A long way

3 Mar 2023

Mana has a long way to go deep down into the abyss. It has currently broken a key support level and it is a long way down to what I would consider the next key support. MACD is also bearish on the daily and RSI is looking to go down into oversold territory.

3 Mar 2023

Catatan

I entered a trade with 5x leverage. Remember that it is not uncommon for the price to backtest the resistance area (thats the risk on this trade).

4 Mar 2023

Catatan

Now we are looking for a retest of the resistance and a reentry with a trade depending of how the price acts at resistance

4 Mar 2023

Catatan

We also witnessed a bullish mat hold on the 4 hourly

4 Mar 2023

Catatan

I entered a new 5x trade at 0,6013 with a tight stoploss at 0,6053 thinking that the 4 hourly candlestick indicates a backtest of the resistance zone and that the long wick indicates that prices are ready to dump. On the 30min we also have a shooting star candlestick pattern with a price drop confirmation (bearish)

5 Mar 2023

Catatan

I made the trade risk free

6 Mar 2023

Catatan

Seeing signs that we are struglling to dump beyond the wicks I took profits while still beeing in the greens

6 Mar 2023

Catatan

Looking for a new entry if we get rejected hard by the resistance