MANA/BTC Symmetrical Triangle Breakout! Ichimoku Daily Analysis
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MANA had been forming a symmetrical triangle in the last couple of weeks since it had the first push up.
It now bounced off the Pivot and broke through the top of the Triangle and through R1. If it now finds support on top of the Triangle the trend is confirmed.
On the Ichimoku the Tenkan ( Yellow Line ) Bounced off the Kijun ( Dark Blue Line ) which means it's trading above it and this is a confirmation of the bullish trend.
The RSI shows a slight Bearish Divergence and is somewhat overbought, so I do expect it to come down a bit at least to retest the top of the triangle as support. And there we can see if it holds and get a good entry point.
MANA had been forming a symmetrical triangle in the last couple of weeks since it had the first push up.
It now bounced off the Pivot and broke through the top of the Triangle and through R1. If it now finds support on top of the Triangle the trend is confirmed.
On the Ichimoku the Tenkan ( Yellow Line ) Bounced off the Kijun ( Dark Blue Line ) which means it's trading above it and this is a confirmation of the bullish trend.
The RSI shows a slight Bearish Divergence and is somewhat overbought, so I do expect it to come down a bit at least to retest the top of the triangle as support. And there we can see if it holds and get a good entry point.