We can see Matic moving in the channel. Daily RSI almost oversold, Stochastic oversold. It could bounce from the bottom blue line to reach the top blue line and try to break up from there. With some good news such as Coinbase listing and more partnerships etc.. anything can happen. If not, we go much much lower...
- Confirmed trend change on the 12H
- Created a new up fractal there, which if we'll brake we'll make higher high
- Alligator is hungry on 12h
- Zoomed in on the 4h; placed some buy orders above that high
- Initial stop below down fractal
Matic doesn't follow BTC, like many alt-coins do and thus is independent from it. Matic just hit the cross point of trend line and main support line (fib 0.236) and bounced from it. Potential is very high, if it breaks the Pitchfork channel. Now, I think, it's trying to do that.
MATIC last wave down is in approach before. Be ready for a drop and a potentiel big bounce for wave 5.
0.01900 is a great buy zone. I would consider also 0.02020. . 0.01454 and 0.01234 are the 2 last entry lines.
Invalidation point is at 0.01119