MANAUSDT UPDATE

6. Feb. 2022

Despite the majority of the crypto market higher time frame narrative being bearish, mana along with a number of metaverse gaming tokens are showing Bullish patterns on HTF, and potentially decoupling from BTC due to the "metaverse boom". On the monthly TF price has retraced to the 0.618 and bounced with a strong impulsive move. On the 1D we can see how this impulse has broken above the downtrend and made a new HH. We are going to waiting on lower timeframes for the market to provide us a correction to retest previous resistance as new support and potentially form a new HL and form this nice inverted H/S , if we see correct confirmations according to our strategies inside of the identified zone we could enter potential leveraged long position. Setup invalidated if this zone fails to hold as support.📈