MATICUSDT is printing a major descending triangle pattern.
Price is testing the descending triangle's inclined resistance.
Price action is printing a minor descending triangle.
Sell entry ⬇️ - breakdown below the minor descending triangle horizontal support.
Target 🎯- fibonacci extension levels / major descending triangle horizontal support.
Setup invalidation ❌...
We are nowadays on nice upper historical trend line. Blue strong bolt line is long term upper trend. Next trend is orange, and is confirmed more times, which means possible continuation short term until middle term. Dashed line is my buy price.
My scenario is, that upper orange middle term trend line will be confirmed, and then come corection on one from next...
I have been waiting for this opportunity for more than 2 days and it is time to do it. I have decided to short MATIC for short term.
I believe that it is overbought and it will retrace soon.
If you look at 15m, 1h charts you can see the price have higher highs but RSI has lower highs.
Besides the histogram on those charts shows that it is losing...
a closer look at the count.
Matic looks like its finished correcting on the higher time frames and is now putting in what could be a set of 1-2's of a potentially enormous 3rd.
i've set out what is to me a very conservative trade in this idea, taking into account a possible ABC to.382. we will see how it acts after the...