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MATICBTC trade ideas

MATIC/BTC 1D | Easy Decision ModelHey everyone, Here we have another easy and low risk play on Matic. Currently, this significant support line in green is being retested from the previous surge upward. If price closes above this horizontal line, expect another push towards higher resistance lines. If the price closes below this line you can assume price will return to the green paralell channel below it. This position is low risk because you can simply monitor it and base your decisions on candle closings which are straight forward. Stop losses can be a bit tighter since it will either work in one direction or another, and shouldn't be allowed to move around too much. For example, a long position can be made at the close above the support line, and stop loss can be placed at the 38.2% fib level. Always remember to use volume in order confirm movements, and to prevent being sucked into a fake-out. Also, don't be fooled by wicks, it only matters where the asset closes. Side note: Notice how the 38.2% fib level already provided support and fended price to bounce up a bit. Keep this in the back of your mind in case price returns to that level. I am labeling this idea as neutral because there is no position being made until certain confirmations appear in the future. -Balkoins
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by balkoins
MATICBTC Continuation| Apex Zone Hello Traders! Today’s chart update will be on MATICBTC where it is approaching its apex zone, a move is imminent. Price may put in a macro higher low and continue this Bull Run or we may see a breakdown from local support, negating market structure. Points to consider - Trend overall bullish - Structural support in confluence with .50 Fibonacci and 200 hourly MA - Resistance coming down from trend line - Stochastics showing upside momentum - RSI neutral - EMA’s giving price resistance - Volume declining rapidly MATIC may potentially be putting in a macro higher low if resistance is broken and support is respected. The structural support is very strong as it is in confluence with the .50 Fibonacci level and the MA, a bounce will be more probable. Resistance is coming into support, accompanied with the EMA’s which will cross bullish when and if MATIC breaks bullish from its apex. The RSI is quite neutral at current given time, can break in either direction whilst the Stochastics is clearly projecting upside, a bull break in other words will have continued momentum. The Volume is declining rapidly, which further proves that a break is imminent, we need to see sustained increase in bull and or bear volume, depending on the break, to ensure we are not in a false break. IMO, MATIC has a high degree of probability to break bullish from this local resistance as support is very strong due to multiple technical confluences. A continuation will put in a macro higher low, confirming the bull trend. A break bearish is also highly possible, this will negate the overall structure, and local lower supports will then be targets for the bears… What are your thoughts on MATIC? Please leave a like and comment And remember, “There is a huge difference between a good trade and good trading.” – Steve Burns
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by AzizKhanZamani
MATIC correction MATIC potential retest 175 price level, slowly grid down before next leg up. MATIC closed above EMA 21,50,100,200 periods still uptrend. Really strong support for MATIC many times tested was 123 sats level. MATIC can retest double top area between 207 and 215 sats. Indicators: MACD bearish crossover above zero line. RSI above zero line. First correction sign. S/R strong support at 123. Major support at 9.618 fibs level 155 sats. Major Resistance 212 sats, Resistance 187 sats. Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
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by blockchaintrends