Mana CryptoCurrency has created a "Head and Shoulders" pattern at the end of its short-term uptrend, with the price now complementing the pullback to the pattern neckline.
This is an opportunity to enter a safe sell position if you see a price reversal from the neckline range with a Stop-Loss above the neckline stabilization and Targets based on 0.38 and 0.5 Fibonacci in the previous wave (equivalent to $ 2.3 for Considered the first Target and $ 1.85 for the second Target).
Do not forget that Mana is the largest cryptocurrency in Metaverse and due to the positive atmosphere of Metaverse Projects this year, it can change the way rapidly as the market expands.
So always pay attention to the status of bitcoin during the position. This is a personal comment.
This is an opportunity to enter a safe sell position if you see a price reversal from the neckline range with a Stop-Loss above the neckline stabilization and Targets based on 0.38 and 0.5 Fibonacci in the previous wave (equivalent to $ 2.3 for Considered the first Target and $ 1.85 for the second Target).
Do not forget that Mana is the largest cryptocurrency in Metaverse and due to the positive atmosphere of Metaverse Projects this year, it can change the way rapidly as the market expands.
So always pay attention to the status of bitcoin during the position. This is a personal comment.
Trade closed: target reached
TP 1 with over 100% with a 5x Leverage on +20% profit in Short Position.You must close 50 ~ 70% of your short volume and put stop loss 2% under your entry and let it go until the next target or close at trailing stop!
Good Luck
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.