A long way

3. März 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. März 2023

Anmerkung

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. März 2023

Anmerkung

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. März 2023

Anmerkung

We also witnessed a bullish mat hold on the 4 hourly

4. März 2023

Anmerkung

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. März 2023

Anmerkung

I made the trade risk free

6. März 2023

Anmerkung

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

6. März 2023

Anmerkung

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