MATIC: RARE Pattern ! Three Drive spotted ๐
๐ MATIC - USDT ๐
The three-drive is a rare price pattern formed by three consecutive symmetrical moves (or drives) up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. this means that we SHOULD bottom soon, at least. And the next landing zone could be a good accumulation point.
At first glance, it may appear bullish - since the price is now consolidating under a "resistance zone", which is normally a bullish indicator when the price is INCREASING, but not when the price is decreasing.
This is infact not consolidation under a resistance zone, but should be seen instead as another failed bounce on a key support zone.
The immediate price we can expect to see in the short term is 0.59c, however this zone was already tested with a wick - meaning it will be weaker when we head there for a second test.
Although it's a great alt to have as a part of your diversified portfolio; I've been bearish on Matic for a while, with my previous update also cautioning sell for short term:
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CryptoCheck
MATICUSDT
The three-drive is a rare price pattern formed by three consecutive symmetrical moves (or drives) up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. this means that we SHOULD bottom soon, at least. And the next landing zone could be a good accumulation point.
At first glance, it may appear bullish - since the price is now consolidating under a "resistance zone", which is normally a bullish indicator when the price is INCREASING, but not when the price is decreasing.
This is infact not consolidation under a resistance zone, but should be seen instead as another failed bounce on a key support zone.
The immediate price we can expect to see in the short term is 0.59c, however this zone was already tested with a wick - meaning it will be weaker when we head there for a second test.
Although it's a great alt to have as a part of your diversified portfolio; I've been bearish on Matic for a while, with my previous update also cautioning sell for short term:
_______________________
๐ขFollow us here on TradingView for daily updates๐ข
๐Hit like & Follow ๐
CryptoCheck
MATICUSDT
ืืขืจื:
Another SHORT opportunity:
ืืขืจื:
MATIC: strong selling pressure in lower timeframes, target may hit sooner than expected:
