As I warned last Jan 6 that MATIC may have topped-out, MATIC after it overshoot outside the up channel, indeed fell down & recently bounced from the violet MA100 with an engulfing candle.
So the probability is high that it has reversed already. Note the TP1 & TP2 using FIB levels 0.50 & 0.618 respectively. Indicators are also turning up.
Bearish Scenario still possible: even if this ma100 bounce is short-lived, the next support is the red ma200 around 1.66 to 1.77 zone,
which also coincides with the lower upchannel & is near the 0.618 retracement of the previous run up.
Not financial advice.
So the probability is high that it has reversed already. Note the TP1 & TP2 using FIB levels 0.50 & 0.618 respectively. Indicators are also turning up.
Bearish Scenario still possible: even if this ma100 bounce is short-lived, the next support is the red ma200 around 1.66 to 1.77 zone,
which also coincides with the lower upchannel & is near the 0.618 retracement of the previous run up.
Not financial advice.