Hey everyone,
I'm back with another chart. Currently, I'm looking closely at MATIC.
We can see a falling wedge highlighting a bullish pattern. The validity of this pattern can also be proven with a decrease in volume as the channel progresses, meaning a big move is coming soon and expect higher volume as seen previously with the ellipses. Also, the RSI is decreasing too. Breaking the trendline will lead to big impulse to the up-side.
While we're almost at the end of the wedge. We're currently situated at the Fibonacci golden pocket. Big support is here.
My target would be a break to the upside to the ideal scenario of 1.618 Fibonacci level. But will be taking profits along the way for each Fibonacci levels.
Do note it's important to retest the wedge for a better and SAFER entry.
If the falling wedge break to the downside, we have a major support of the 0.5 Fibonacci level. That too could be a potential buying zone.
Yours truly,
Aloo2k
I'm back with another chart. Currently, I'm looking closely at MATIC.
We can see a falling wedge highlighting a bullish pattern. The validity of this pattern can also be proven with a decrease in volume as the channel progresses, meaning a big move is coming soon and expect higher volume as seen previously with the ellipses. Also, the RSI is decreasing too. Breaking the trendline will lead to big impulse to the up-side.
While we're almost at the end of the wedge. We're currently situated at the Fibonacci golden pocket. Big support is here.
My target would be a break to the upside to the ideal scenario of 1.618 Fibonacci level. But will be taking profits along the way for each Fibonacci levels.
Do note it's important to retest the wedge for a better and SAFER entry.
If the falling wedge break to the downside, we have a major support of the 0.5 Fibonacci level. That too could be a potential buying zone.
Yours truly,
Aloo2k
