MATIC/USDT - Bull exhaustion or primed for more price discovery?
To keep myself accountable and keep practicing my TA I'll be charting the top 100 crypto's by marketcap over the coming fews days. Any feedback and tips are welcome.
Trend = bullish (upward channel, HH & HL's)
Notes:
- As most alts, very bullish and just had a great run up already. Currently hoovering around ATH resistance
- Retested the 0.236 on the 4H twice, decent support strength
- Volume not great compared to earlier run up, could point to exhaustion
Ideas:
- If 4H can break & close previous D1 resistance I'm expecting continuation of ATH/price discovery
- If volume remains low/we don't break daily resistance I'm expecting a pullback. Potential bounce on the 0.236 fib, more
likely around the 0.5 fib level (bottom channel/weekly support) and an upward bounce after
Trend = bullish (upward channel, HH & HL's)
Notes:
- As most alts, very bullish and just had a great run up already. Currently hoovering around ATH resistance
- Retested the 0.236 on the 4H twice, decent support strength
- Volume not great compared to earlier run up, could point to exhaustion
Ideas:
- If 4H can break & close previous D1 resistance I'm expecting continuation of ATH/price discovery
- If volume remains low/we don't break daily resistance I'm expecting a pullback. Potential bounce on the 0.236 fib, more
likely around the 0.5 fib level (bottom channel/weekly support) and an upward bounce after