We can see that MATIC recently broke out of the parallel channel.
It retraced once again to the major support level at 1.5, which is also now in confluence with the 38.2% of the fib.
This is a very strong long setup, with targets being 1.7, 1.87, 2 then 2.2
However, if we break 1.5, we could head back down to 1.35 then 1.2
Of course this will be affected by Bitcoin, so watch it on the side.
Any question?
Good luck traders
Remember not to break your rules
Habib
It retraced once again to the major support level at 1.5, which is also now in confluence with the 38.2% of the fib.
This is a very strong long setup, with targets being 1.7, 1.87, 2 then 2.2
However, if we break 1.5, we could head back down to 1.35 then 1.2
Of course this will be affected by Bitcoin, so watch it on the side.
Any question?
Good luck traders
Remember not to break your rules
Habib