I am bearish on MATIC. Clear double top bearish pattern on MATICUSD on both 4H and 1D timeframe. In case of a breach of the 1.45 resistance level, it might head further down onto 1.0, the lower low of the pattern, which also intersects with Fibonacci 0.236 level.
@Hellellennium ...Yes, could well, be, just with a lower start point it seems for wave C (2.4)....I think its started now, but if B was an expanded flat then maybe the news of a conference pushed the top of wave B up a bit from 2.25 - 2.40....I expect this to drop below the start of wave A
stephencoastline
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Bearish aye?
SP129
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I thought the top of a wave B extended flat would have been around 2.25, but its kept going
Hellellennium
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@SP129, Wave B looks to me like a Three Drives Pattern as first 2 drives have equal Fibs. My expected target for drive 3 is $2.6 before expecting wave C to commence. I hope I'm wrong though, I'd prefer to stay bullish.
Gamehenge
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Are you sure??? ;) Check out my contrary analysis. Good Luck!