MATICUSDT Possible Head and Shoulders Pattern
Updated
Matic USDT is showing a large Head and Shoulders pattern visible across many Time Frames,
Being a bearish chart pattern my Targets are shown. Nothing is confirmed yet. we could catch a bounce from the sloping trend line.
Overall Im bullish af on this project and with the recent eip1559 implementation im confident we will see higher prices mid to long term.
I wont be opening a short position at the shoulderline I will wait for a retest rejection. Overall I welcome adding to my long term Matic holdings at cheaper prices.
Being a bearish chart pattern my Targets are shown. Nothing is confirmed yet. we could catch a bounce from the sloping trend line.
Overall Im bullish af on this project and with the recent eip1559 implementation im confident we will see higher prices mid to long term.
I wont be opening a short position at the shoulderline I will wait for a retest rejection. Overall I welcome adding to my long term Matic holdings at cheaper prices.
Note
Broke down as expected. BTC looks very weak so we could see more red for the next few days, Looks like eip 1559 has been priced in by market participants. Price will recover. No need to panic sell. Patience is the key to the market. wgmiNote
TP2 taken expect some upside movement before a rejection around 1.60 - 1.75 down to my third TP to slurp up the bulk of the liquidty. trade safe. Have invalidation price before opening up any trades.Trade closed: target reached
Not yet long but wanting to see some accumulation/range to form. Trade Safe.
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