MANAUSD: Heading to the next ATH?

2021년 11월 12일

Indicator use: R/S Line Test, TTM Squeeze, Volume, Price Action, 10 + 20 EMA
Platform: Coinbase Pro
Time Frame Used: 4h
Entry: $2.92 LONG
Exit: Scale out 50% of position to take back principal + profits as it hits 100%
Stop: 15% Stop Loss Set

MANA cleared the previous resistance at around $2.95 price level, keep in mind the Volume is still low so this could be a fake breakout as it is retesting the resistance again to clear the ceiling. The market is bullish as MANA gives exposure the Metaverse. As you can see the 10 EMA made its cross over the 21 EMA to the upside. I'm watching for continuation as this coin is showing relative strength while the rest of the market is experiencing a healthy pull back. If it clears then we may see a new ATH as it appears this is an accumulation phase still.

My strategy is to always scale out and take profits to expand my portfolio and go in cash to enter on the next dip.