MANAUSD - Nearing critical decision point on 4H
מעודכן
Decentraland is reaching the point of a larger symmetrical triangle consolidation pattern I've been watching for a while now. Decreasing volume indicates that a move is imminent. If the move has high volume and strength, that would be an indication to look for an entry point.
It's also formed a bull flag inside of the larger structure. Within the next 24 hours, it'll make a decision which way to go, either way down, or way up.. not much in between I suspect. Wait for confirmation before entering a position. Target 1 is the measured move of the flag pole from the smaller move up, and Target 2 is the measured move from the impulse move to the top of the symmetrical triangle.
Watching for breaks of $1.02, $1.07, and $1.11 as resistance points.
Potential 30-60% gains from the move.
It's also formed a bull flag inside of the larger structure. Within the next 24 hours, it'll make a decision which way to go, either way down, or way up.. not much in between I suspect. Wait for confirmation before entering a position. Target 1 is the measured move of the flag pole from the smaller move up, and Target 2 is the measured move from the impulse move to the top of the symmetrical triangle.
Watching for breaks of $1.02, $1.07, and $1.11 as resistance points.
Potential 30-60% gains from the move.
הערה
Still consolidating.. zooming in on the 1h chart shows rejection at the upper boundary, so a retest of support is probably coming at the lower boundary. If that holds, a breakout to the upside becomes much more likely on a retest of resistance.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.