🔥 MATIC Bearish Head & Shoulders Daily Pattern

٢١ فبراير ٢٠٢٢

Since early February, MATIC is selling off. The last leg down has completed the head & shoulders pattern. This pattern is classically a bearish continuation pattern, so the expectation is that there's more pain to come.

In case of a prolonged sell-off, we might re-visit the summer-21 bear market lows around the $1 mark. A very big sell-off of BTC needs to happen in order for MATIC to drop this low. A more intermediate scenario would be for MATIC to fall towards the $1.30 support, which has been formed recently.

Happy trading!