MATIC/USDT (SHORT POSITION) BIG CORRECTION
Entry: $1.85
Stop Loss: $2
Take Profit: $1.25
Risk:Reward 1:6
*Leverage: 5x
Analysis:
Matic has failed to retest the daily resistance at $2.56. Due to BTC correction for the next few months, I expect it to follow the downtrend for a while.
Lower High on Daily Chart and 4H chart shows the weaknesses of its uptrend.
Therefore, I am looking at the support at $1.5. Once its broken, further down to $1.25 for our take profit area.
All The Best
Stop Loss: $2
Take Profit: $1.25
Risk:Reward 1:6
*Leverage: 5x
Analysis:
Matic has failed to retest the daily resistance at $2.56. Due to BTC correction for the next few months, I expect it to follow the downtrend for a while.
Lower High on Daily Chart and 4H chart shows the weaknesses of its uptrend.
Therefore, I am looking at the support at $1.5. Once its broken, further down to $1.25 for our take profit area.
All The Best
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.