Buying more $MINA
I was worried when the stock market and tech stocks were selling off the other day, but they're now showing signs of life.
A technical bounce for $MINA may be imminent. I re-entered my position at $1.02.
BTW follow me at @Layer1Report for more market signals.
Tech stocks are starting to show some life again.
My model printed a new buy signal for $QQQ at $443.
If this holds up tomorrow, I'd expect some positive price action in crypto into the weekend.
UPDATE:
$MINA got pretty close to hitting the 200dMa this morning. It hit a low of $0.99.
If we continue to drop, I expect there will be strong support near $0.96.
$MINA next major support is near $0.96 at the 200dMa.
We haven't tested the 200d this entire bull cycle. It will be good to see if we test and hold it and get a strong bounce.
$MINA next major support is near $0.96 at the 200dMa.
We haven't tested the 200d this entire bull cycle. It will be good to see if we test and hold it and get a strong bounce.
I'm not expecting a lot of movement on $MINA until BTC makes a move.
Anything near or under $1 on $MINA should be a great entry in the near term.
$BTC has been in accumulation mode from $61.8k to $73.2k. This is generally a bullish signal and points to more upside ahead.
I'd be concerned if we lost $61.8k. That's the area where my algo would also print a sell signal.
For now, we continue to chop.
UPDATE
Based on my recent tweets, I'm proceeding with more caution. I've exited half of my $MINA position and will hold the remaining half as a long-term bag with expectations of more downside in the short-term.
If the stock market and ETH rebound quickly, I'll buy back.
Another warning sign for $MINA.
ETH model flashing warnings which could cause a larger slide in the alt market.
Another bearish sign. My model just printed an exit signal for $ETH today.
It's been long since Oct 22. It only exited for a few weeks in Jan, but otherwise been long for ~5mo.
I took profits today. I will re-enter on the next buy signal. Will let you all know when it prints.
$MINA fam this is something to keep an eye on. My SP500 model printed a trend reversal today. I'm hoping it's a false signal, followed by a quick rebound.
It's worth taking this seriously as a stock market correction would lead to a bigger sell off in crypto.
Looking forward, I still think $MINA breaks through the ~$1.70 resistance on the next attempt.
The bigger question is how long must we wait for another test?
Hard to say.
$MINA long time since my last update. Not a lot has happened since then.
I did finally get my low ball buy order filled at $1.02.
The next week or two may still have lots of selling due to tax season. People need extra cash to pay their tax bills.
I have placed another low ball buy order near the 200d at $0.93.
$MINA hasn't regained the support line just yet.
It had a nice bounce off the lows but I wont feel too confident until we close back above $1.27.
I still have some low ball buy orders near $1 just incase we get a deeper crash.
$MINA hasn't regained the support line just yet.
It had a nice bounce off the lows but I wont feel too confident until we close back above $1.27.
I still have some low ball buy orders near $1 just incase we get a deeper crash.
$MINA 馃憖
$MINA is in a difficult spot here. Multiple daily closes below our major support line. However, it has found support at the 20w at $1.09.
A daily close above $1.27 would get us back on track. A weekly close below $1.09 would signal a move to under $1.
Difficult to say which way it's heading in the short term. It's worth noting that we're down nearly 40% in a few weeks so a technical bounce could be brewing.
$MINA is in a difficult spot here. Multiple daily closes below our major support line. However, it has found support at the 20w at $1.09.
A daily close above $1.27 would get us back on track. A weekly close below $1.09 would signal a move to under $1.
Difficult to say which way it's heading in the short term. It's worth noting that we're down nearly 40% in a few weeks so a technical bounce could be brewing.
$MINA showing signs of life. Prior support is now resistance (blue line) at $1.26.
$MINA closed below key support on the daily chart.
Either a nasty fake out, or we're heading much lower. Be careful here.
$MINA hugging the support line. We could get a nasty wick below. Setting some low ball buy orders just in case.
UPDATE:
$MINA bounced off of lower support. Sitting ok for now.
The lower blue line represents support going back to Oct 2023. We've touched this line 5+ times over the past 6 months and it has held each time.
We really need to stay above to continue bullish momentum.
UPDATE
$MINA testing the 1st line of support at $1.30.
$1.24 is the stronger support. Could flash crash below.
