MATIC DAILY OUTLOOK. continuation or reversal?
hello Investors
MATICUSDT accumulated for 8 months before breaking out to the upside 9 days ago. I have identified the active bullish impulse which was created during the breakout and I have marked it up using my Fibonacci tool.
Currently, price is retracing so I am observing price action above these Fibonacci levels for a bullish reaction and a bullish daily candle close.
If price creates a bullish reaction on the daily timeframe above these levels then I will be observing the lower timeframes for bullish execution opportunities according to my confirmation with my first Target at 1.7883
However, I am open minded to the possibility of a bearish reversal if price should break and close below 1.1581 price level.
Let’s stay patient and see what happens next.
MATICUSDT accumulated for 8 months before breaking out to the upside 9 days ago. I have identified the active bullish impulse which was created during the breakout and I have marked it up using my Fibonacci tool.
Currently, price is retracing so I am observing price action above these Fibonacci levels for a bullish reaction and a bullish daily candle close.
If price creates a bullish reaction on the daily timeframe above these levels then I will be observing the lower timeframes for bullish execution opportunities according to my confirmation with my first Target at 1.7883
However, I am open minded to the possibility of a bearish reversal if price should break and close below 1.1581 price level.
Let’s stay patient and see what happens next.