Get started

Decentraland / Bitcoin

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

MANABTC trade ideas

MANABTC - Maybe Short but Way LongLEGEND The green Schiff fork is drawn from initial crossover from being oversold to overbought according to 3h RSI, and aligns with price points that have been more bought than sold according to the VPVR. The Fibonacci retracement is drawn from initial major movement to the all-time high. The Schiff fork channel in blue is drawn from the ATH balanced on the immediate lows on either side. The Schiff fork channel in white is drawn from a supply-side shift due to loss of confidence in the market and people hedging into BTC. Long standing bearish RSI trend from the initial spike in December has been periodically counteracted by bullish buy-ins with decreasing effect on the price over time. ANALYSIS Once RSI compression (RSI trending low) hits a maximum between 30%-50% we can expect some positive movement or total collapse. Price point has bounced off of the 0.382 Fib retracement enthusiastically, and held around the 0.5 Fib retracement pretty tightly. It would make sense for the price point to decrease to the 0.382 Fib retracement at around 850 sat, but it would be a surprise if it got all the way down to the .236 Fib retracement at 600 sat. Realistically guessing around 700-725 sat mid-March and then beginning the next leg up through April. An inflation rate of 8% per year, to begin at "a later date" would not help the price point without substantial use, but this environment and nascent virtual economy could exhibit several "tipping points" and inflection points in the growth curve. COMMENTARY Decentraland is an interesting project, just at a conceptual level. As a confluence of the real, unreal, intangible, and observable, a virtual city where the "land" itself was auctioned off, and can be built out, presents an encapsulated universe wherein visitors and participants are essentially a captive market for the currency. This means the growth of its use can be observed in terms of visitors, participation in different environments/plots, and actual exchange of virtual currency for virtual goods and services. As one example, the owner of the genesis Cryptokitty has posted on Ethlance recruiting graphic design talent for a temple devoted to the cryptokitty, where patrons can throw coins into a well as a virtual donation. This will likely not be the be-all end-all of virtual cities, but considering the implications of land ownership in a virtual space in parallel with land ownership in the real world, many potential contract-oriented instruments are possible to inflate the growth of the virtual economy, if it launches successfully. The designated and maintained spatial organization dividing the virtual city parcels with coordinates will likely translate into higher and lower trafficked segments, then advertising within the virtual city could be capitalized upon as well. If you know more about this project, I'd love to hear it. * NOT A PRO * DYOR * TAKE YOUR OWN ADVICE * Work the muck, and I'll see y'all come harvest time.
by klanedroid
MANA/BTC - Consolidation Support Bounce (20-30%)MANA/BTC has established itself in a consolidation period since mid-Jan, and has therefore developed strong areas of support and resistance. The price on the higher time frame is entering the support zone, and the lower time frame is providing multiple signals that bulls are re-entering the market and gearing up for a test of the resistance zone. If this happens we should be able to pocket a 20-30% trade. Remember, the safest trade is to monitor the lower time frame chart for confirmation of an upward movement, and only enter once that is also reflected on the higher time frame. If you're a higher risk trader you could look to enter now, but be aware that there isn't much preventing the price dropping 25% if this support area is breached. I'll keep updating the trade as it develops, and I'll try to provide a definitive entry point once it becomes apparent. But it could develop fairly quickly, as it looks to me like bullish action has been building up quite strongly, so be sure to monitor this one closely. Cheers and good luck, RJR
Long
by DreamsDefined
MANABTC Bullish Pennant - 75% ProfitHey Guys: BINANCE:MANABTC is our next coin of discussion. It looks as though BINANCE:MANABTC is forming a bullish pennant . Should the pennant break, we could see profits of up to 75%. Using the height of Pole A, we can estimate the peak of the second rise; should there be one. The estimated peak from Pole B just happens to also stop at the peak of our Fib Extension. Entry Point: Look for the price to break the pennant. After breaking from it, I'd wait until the price cleanly breaks through the next Fibonacci level. i,e., If the price stays within the pennant over the next month and breaks on March 16th, I'd wait until the price rose above the 0.382 Fibonacci level. Target Points: (1) 0.00001720 (2) 0.00001935 (3) 0.00002242 (4) 0.00002632 Stop-Loss: Again, we will wait until we enter e position before gauging an appropriate stop-loss. Indicators: *I didn't include the normal MAs because of the initial listing of BINANCE:MANABTC . Those prices mess with the calculations of the MAs and are not reliable. So, we'll use them at a later time. Sniper T3-CCI We are going to keep an eye on this as time unfolds. Should the price fall below the 0.236 Fibonacci level, we should expect this to follow and confirm a downtrend. Candlesticks: The two candles above the red arrows raises some questions: The first one shows large wicks and very little body. This indicates that there was a big battle between buyers and sellers. Although the sellers won, the result wasn't dominant. The second, today, shows a hammer. Now, the hammer is still bearish; which doesn't necessarily support our claim that a rise is eminent. Ideally, we want to see the bulls takeover as the rest of the day unfolds and turn that sucker into a green hammer. Summary We'll be keeping an eye on this coin over the next few weeks. I'm going to wait for the confirmation of an uptrend before entering a position. Good Luck! -Matt
Long
by TroutHouse
1
Buy MANAMANA finds support. After a correction that has lasted for just over a week, MANA token has found support at their 50 day EMA, which has been a reasonably strong support since the beginning of December. That said, one key factor that traders should bear in mind is that residents of the Decentraland are actively preparing for the opening of the platform and hiring designers to embody their most interesting fantasies. As things stand, the token looks set to continue its uptrend over the coming weeks. For now, the token is a fair distance from overbought territory, whether you look at the Bollinger Bands or the RSI, and looks set to move higher.
Long
by LudwigStirner
4
Decentraland Growth PotentialI don't really think VR has a positive potential over Mixed Reality, but that is a whole different story. Given the currency price of 11 cents plus the fact that MANA is partnered with Aragon, I see some inevitable growth potential. While they entered the market with hugely negative correlations, this price seems like a dip given the potential of higher demands. If they grow at the same rate of the rest of their partners from current price, you are talking about at least a 440% positive growth potential with medium risk.
Long
by gamer456148
MANA/BTC fibs after Bitfinex listingFib retracements from the bottom to the top of the uptrend (after Bitfinex listing) show quite clearly honoured resistance/support lines on the daily chart . Bullish trend channel emerging, waiting for 3rd bounce off support to be sure, as MANA was listed on 5 exchanges throughout the price pump in December, so the next couple of days should confirm if this has any legs to challenge the local high, or if it will be a steady journey back down to the 0.786 range.
by cryptofunke