$MANTA still looking heavy ngl 📉



Broke down hard from that $0.085 zone in July & hasn't recovered now just chopping around $0.057-0.066, no real bounce energy.

Both the $0.16 top and $0.05 bottom are still open on this chart missing wicks.. which usually means price wants to tag them eventually.

Short bias makes sense here while we're under $0.066.

Entry Zone: $0.063 - $0.066
SL: $0.069

TP1: $0.058
TP2: $0.052
TP3: $0.050 (major zone)

If $0.05 breaks clean, this thing can bleed way lower. No rush though.. let it come to you, don't chase red candles.

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MANTA-0.52%
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TheTreeInTheCenterOfMistValley
· 08-23 02:52
I really relate to “don’t chase red candles.” In this kind of market lately, chasing in is basically just giving the market makers your trading fees; it’s best to place limit orders and wait for it to come to you.
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FarmNoob
· 08-23 02:49
The 0.05 bottom is obvious, but the lack of a wick suggests the market will not reach it in one move. It will most likely consolidate between 0.057 and 0.066 for a while, so it would be better to wait for a false breakout before entering a short.
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CCIHunter
· 08-23 02:47
If 0.05 breaks, the path below is indeed wide open, but I suspect this move will first take out the stop-losses at 0.066 before heading lower. Be careful.
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WhitelistHunter
· 08-23 02:46
The short thesis holds, but don’t chase shorts below 0.066; wait for a pullback for greater safety.
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