wheresmybacardi

Falling wedge and bullish divergence on the daily

Long
BINANCE:MATICBTC   MATIC Network / Bitcoin
There is a falling wedge pattern formed on the daily with a bullish divergence on the RSI.
RSI is converging so we could see a nice breakout very soon.
The same wedge pattern is being played on the MATIC/ETH chart.
Depending on how the market performs as a whole in the coming weeks, we could see a resume of the bullish trend for matic or atleast a nice leg up to form a lower high, take caution since everything can be invalidated if the Ukraine/Russia crisis has a negative impact on the market this week.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.