bensonwithin

I'm Sorry MANA But You Need To Sit Down

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BINANCE:MANABTC   Decentraland / Bitcoin
Currently MANA is trading at the top of it's channel which will likely produce a downtrend. Because BTC rules the market and I am expecting BTC to continue to go down, alt coins will follow. You can see on the 4 hr chart that two candles have long wicks touching the top of the channel. This means many sellers are in that area and not enough buyers. I plan to buy in at the 50, 61.8 and 78.6 Fibonacci levels as it comes back down. Always set stop losses to minimize risk in the event that it doesn't bounce. I don't expect these bounces to be very large, 5% max. But small profits add up.
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