Long
MATIC IS HEAD & SHOULDERS ABOVE THE REST OR ...?
Dear Traders! Hope you're having a blast! I'm gonna cut right to the chase. Matic is exhibiting an inverse H&SH pattern in the daily timeframe. MACD is divergent in the positive zone. RSI has room to grow although it is entering the overbought zone; history shows that RSI was usually rejected in the range between 82 and 89. MATIC is staring up a stiff resistance level. If conquered, the doors to the previous ATH will open. Having said all that, something that gnaws at me is the insufficient volume. For MATIC to be able to scale higher, robust and consistent volume must flow in. My friends! Always remember that trading is a game of probabilities, not certainties! Patterns speak volumes; however, they are not under any obligation to follow precedence. Patterns. more often than not, fail too! Exercise caution and manage risk! At the moment, the crypto market is in a precarious position. It can go both ways. Best of luck!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.