MATIC/BTC has broken out of a bullish pennant on the daily - albeit with not a great deal of momentum. Also appears to have uncoupled somewhat from the bearish BTC market.
At the moment, it looks like its struggling against the 0.786 Fib res around the psychological 160 Sats level.
Volume has been rising over the past 18 days despite the widespread bear market,...
ONE/BTC consolidating inside a nice pennant. Volume looking pretty good right now, but unsure how it'll sustain given the falling BTC market right now.
If it breaks bullish above the resistance I'll wait to see how the 4-hourly close and volume looks before entering.
Be interesting to see if this second channel plays out as cleanly as the first.
Upper resistance looks well-established but lower support could do with another retest to confirm the pattern.
$9,800 support could prop up price action temporarily but MACD, RSI and moving averages all currently favour a bearish continuation.
Assuming the channel plays out all...
If we close beneath the current rising wedge support then we should anticipate a correction down on to the base support of the encompassing wedge pattern (approx $8,900).
If we somehow manage to find new bullish support - perhaps from the soft launch of Bakkt today - then we'll need to see a strong daily close above $10,700 to confirm a...
Consolidating against strong support and very well-established resistance. Volume is not looking great, but MACD and RSI divergences are a promising signal.
Might be worth watching over the next couple of days.