Daily chart looking like it may bounce for a long inverse H&S to play out. Bought in @ 5% of my funds and waiting for a bullish engulfing candle before adding to my position. Stoch RSI is over sold territory. Also monitoring BTC on the daily for confirmation.
Looking for a short term trade here but considering a squeeze play soon as well.
The recent retracement on BTC has seen a few alt coins drop back to trend at good buy points to continue the trend.
Taking a position on Matic now as it offers a descent risk to reward even to previous resistance, and trending a break in trend as invalidation to get out of the...
MATIC looks to be flipping this level to support - now looking for a push up to the liquidity marked ('x') into the supply zone. For a trade based on the 1hr, I see this as a wedge breakout, therefore invalidation would be the low.
Matic could be due for a 60% dump real soon as it's been testing the neckline of a descending triangle as resistance for days now and has begun to show weaknesses on the MACD and RSI in the form of Hidden Bearish Divergence.
If MATIC breaks the parallel channel , flag formation shows trend following signal. For a safe position, wait for a retest after the breakout. When a 1h or 4h candle closes over last fractal resistance, there is a chance to open long position with given TP/SL points.