if btc loses $45k, we fall down to the next swing (green box around $30k). The last parabolic party ended when BTC corrected 47% from the top. This fall would be 50% from the top. you will definitely see a nice bounce back but it wouldn't create new ATH... it will fall to doom, 80% correction total from the very top of ATH. there is a...
in the current pennant, downwards movement is most likely. however if the dollar breaks above the top downwards trendline, could be lifting off. doubtful. dollar is gonna be more worthless. most likely.
Past history can tell ahead into the future where things will go with pennant formation. As you can see, past parabolic pennants can perhaps predict where key future support and resistance may be. Also, if this trendline holds, the third and potential final parabolic trendline from this run could begin in July.
which pennant are we in?
multiple pennant ideas on matic... of course the pennants can change with similar results if matic drops a bit more. this is at this very moment with where pricing is at. personally i am long on matic.
Alts are warming up, last call for entries are around now. My prediction is that alts will fall with BTC price if the pricing keeps dropping but it should slowly decouple from BTC's price action and do it's own thing for a while. Could last a couple of weeks, maybe months while BTC goes to sleep for a bit, but when BTC comes back, it will come back hard and wreck alts.
Which pennant are we in? The large blue one with huge upside or the white pennant with a $0.21 possibility? looking back at past history, which scenarios is likely and honest with crypto price action? If we fall into the 20's, it could be rocky for Matic, keep your stop loss tight. Keep in mind the BTC dominance is falling.