MANA - Head and Shoulders Pattern
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MANA forms the head and shoulders of the pattern under the resistance of the descending channel.
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MANA broke the trend line and is on its way to further support.
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Mana is approaching a support point, if it holds there a small bounce is possible, but eventually it will still break down.
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As expected, MANA bounced out of the area to test the broken previous support (currently resistance).
It's hard to accurately predict the path here, but I see that liquidity below the December low has not been picked and I don't see any nice structure for a bottom to move up from, I'm not looking at short pumps to hunt bulls.
I think the ridiculous country is more in the south.
I don't stand for game chips for this country and I don't think it's the future.
I canceled Facebook and everything like that a long time ago, I don't need to know who eats what shit and presents their life there, which often doesn't correspond to reality.
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The broken support of 2020 will be a strong obstacle to a return higher, so I foresee a rejection from the area and a subsequent decline into the accumulation zone, where the Mana will be put to rest, waiting for possible use in the future.
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Looks like people aren't flocking back to that ridiculous country.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.