MATIC - HH/HL trend continuation or market structure break
MATIC drowned in the redness of the market.
Despite recent bullish price action MATIC is down 30% from ATH.
New ATH is reached but volume was low. Fakeout is more probable in low volume situations.
Now I'm looking at 1.85$ as last support before market structure breaks and MATIC creates lower low (LL).
If BTC doesn't stabilize LL situation is very probable.
For now I'm watching this level with some alerts and waiting for reversal to jump in.
I bought some dips, but MATIC not yet. Waiting for some conformation, I'm not fan of catching falling knife.
My previous analysis where I warned about fakeout possibilities:
"Breakout without volume confirmation can result in false breakout. Hope it is not the case here."... take a look here:
Despite recent bullish price action MATIC is down 30% from ATH.
New ATH is reached but volume was low. Fakeout is more probable in low volume situations.
Now I'm looking at 1.85$ as last support before market structure breaks and MATIC creates lower low (LL).
If BTC doesn't stabilize LL situation is very probable.
For now I'm watching this level with some alerts and waiting for reversal to jump in.
I bought some dips, but MATIC not yet. Waiting for some conformation, I'm not fan of catching falling knife.
My previous analysis where I warned about fakeout possibilities:
"Breakout without volume confirmation can result in false breakout. Hope it is not the case here."... take a look here:
