MATIC| Potential Drop to Near Lows For Pullback
Hello there,
MATICUSDT at H4, The bearish momentum is not clear below the resistance line of 0.6992; it could potentially move down to near-lows marked as (n) or lower to 0.6500 or even drop further down to 0.6073 to complete the sixth wave that follows ABC.
Since we cannot tell exactly where (C) might end up or if it would lead to an extension of ABC, 0.7134 is the only area for bullish interests.
The target is 0.7673 for a bias region of 0.8500. The current momentum takes up the bearish momentum in the daily time frame.
Happy trading,
K.
MATICUSDT at H4, The bearish momentum is not clear below the resistance line of 0.6992; it could potentially move down to near-lows marked as (n) or lower to 0.6500 or even drop further down to 0.6073 to complete the sixth wave that follows ABC.
Since we cannot tell exactly where (C) might end up or if it would lead to an extension of ABC, 0.7134 is the only area for bullish interests.
The target is 0.7673 for a bias region of 0.8500. The current momentum takes up the bearish momentum in the daily time frame.
Happy trading,
K.
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