Long
MATICUSDT , DOUBLE BOTTOM , UPWARD TREND ?
Hello Traders!
- On 4H time frame chart MATIC has made a correction from its recent bullish move, retested the 1.8$ support zone and bounced back strongly. It has then made a double bottom ( good bullish sign ) followed by a consolidation range from where it attempted another bull run. However due to the correction in BTC this pair also crashed a little.
- On the lower time frame 1H it has created another double bottom and attempting to push back up with two strong support structures underneath it. I am expecting this pair to retest 1.950$ resistance ( strong key rejection) very soon followed by 2.000$ and 2.100$
- Too keep this pattern bullish we need to see a good amount of buying volume along with steam from the bulls to keep this trend valid (new higher lows) reaching key level resistance 2.200$
Thank you, Good luck!
- On 4H time frame chart MATIC has made a correction from its recent bullish move, retested the 1.8$ support zone and bounced back strongly. It has then made a double bottom ( good bullish sign ) followed by a consolidation range from where it attempted another bull run. However due to the correction in BTC this pair also crashed a little.
- On the lower time frame 1H it has created another double bottom and attempting to push back up with two strong support structures underneath it. I am expecting this pair to retest 1.950$ resistance ( strong key rejection) very soon followed by 2.000$ and 2.100$
- Too keep this pattern bullish we need to see a good amount of buying volume along with steam from the bulls to keep this trend valid (new higher lows) reaching key level resistance 2.200$
Thank you, Good luck!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.