Yet another inverted HEAD&SHOULDERS. A wide head and shoulder chart pattern, but still the same guidelines and previous market parformance.
Check the previous analysis on MANABTC( https://ci.covesting.io/tradeidea/manabtc)
Technicals suggest that price will range between the 0.382 and 0.236fibonacci as the right shoulder will be completed. The oscilator(stochastic RSI) is fully oversold( on the 30min time frame). In the 1hour time frame,Using the ichimoku metrics Tenken(T blue), Kijun(K red), Senkou span(A&B),Cloud: RED(bearish), GREEN( bullish) and Lagging span.
The rules remains that ICHIMOKU wants everything to be at equilibrium, wants Senkou(A&B) to be cloud to each other, the Tenkan sen and the Kijun sen to be close to each other as well. Tenkan sen and Kijun sen is far from each other( TK DISEQUILIBRIUM) calling for a C-clamp back to the kijun sen.
These set up is indicating that price is oversold and calling for a pull back.
BUY:$2.38 up to $2.47
SELL:$2.5 up to $3
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.