HedgingChaos

MATIC: possible bullish continuation on shorter time frames

Long
FTX:MATICUSD   Matic / USD
MATIC broke out of its large descending wedge that was formed during the market-wide downswing and has formed a nice little falling wedge . If it can hold that support level and show a bullish continuation, it's a decent setup for a long. I'd be targeting just south of the 1.618 fib as an exit point.

Comments

Using RSI alone isn’t enough. There are other support areas and matic may go down to as low as 1.32 before breaking out.
+2 Reply
Agree, tbh in this one I forgot to close RSI window entirely. I wasn’t really using it at all in the analysis
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