Today’s Analysis – MATICUSDT- trading in a pattern where a break is probable.
Points to consider,
- Price Action Apex
- Local S/R Resistance (.382 )
- Daily S/R Support
- Oscillators Neutral
MATICUSDT’s immediate price action is trading in an apex, a break will be imminent. The formation is a , this allows us to have a bias.
Local S/R is current target, this area is in confluence with the .382 Fibonacci, price action has a probability of rejecting here.
Crucial support is Daily S/R, breaking below this level will negate our bias as the will no longer be in play.
Both Oscillators are currently neutral whilst is evidently low, an influx is highly probable when the breakout occurs.
Overall, in my opinion, MATICUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
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