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MATIC// Possible Bottom
Price has reverted back to a strong area of support and also a primary long term uptrend line.
Adding to this, from the last impulse and retracement, this is a -27% extension which is usually a strong support that then pulls back to the 0% line (which it has) and from there continues the initial move from the extension (down). However, there are also times when price can do the opposite, if any - that time may be now. Check comments for intraday chart.
The current 2 daily candle sshows huge buying momentum in a pinbar and engulfing candle which is a good sign that the trend may still be in contact.
Adding to this, from the last impulse and retracement, this is a -27% extension which is usually a strong support that then pulls back to the 0% line (which it has) and from there continues the initial move from the extension (down). However, there are also times when price can do the opposite, if any - that time may be now. Check comments for intraday chart.
The current 2 daily candle sshows huge buying momentum in a pinbar and engulfing candle which is a good sign that the trend may still be in contact.
Nota
4H ViewNota
Weekly View - Sitting at an area of previous support (long wick) which closes above the 61%
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.