MATIC - Watching closely
MATIC looking poised to make a move. Potential cup and handle forming on long term BTC chart. Confirmation and subsequent breakout of this pattern could lead to a significant break out above $3 on the $ chart. $ chart itself is forming somewhat of a C&H, maybe more of an ascending triangle. Watch for possible breakout.
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Comment: USD pair broke through support line in original chart and now resembles more of a C&H pattern like the BTC pair. Opened position and watching for confirmation of pattern. MATICUSD MACD also showing signs of hidden bullish divergence on this possible reversal indicating continuation of upwards trend.
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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.