🔥 MATIC Potential Bear Flag Forming: 2 In 1 Signal!

12 ก.ค. 2023

After weeks of selling, MATIC seems to have found support and has been trading inside a bullish channel for over a month now. A bullish channel after a strong sell-off often results in a bear flag pattern, which is a continuation of the bearish trend.

Looking at this chart, we can construct two different signals.

The safest trade would be to wait for the price to fall through the channel's support and enter once the price has closed below it. A more risky trade would be to enter from the to resistance, around the current area. Bot trades have the same target: the current bear market bottom around 0.32. The potential win of the risky trade is much higher because of the tighter stop and the further profit target.