Hello guys. This my first analysis.
A stochastic oscillator is a momentum indicator comparing a particular closing price of a security to a range of its prices over a certain period of time. It can show various things such as oversold and overbought. According to daily candle graphic stochastic indicator shows it is oversold. So we can expect that MATIC/BTC will rise up. Moreover weekly stochastic oscillator increasing so we can expect at least a few week increase in MATIC.
On the other hand Fibionacci retracement indicator clearly shows that it is strong support on 217 satoshi. If the price closes over this level (it seems it will) 217 satoshi will be new support. And 250 satoshi will be new resistance. Let's wait and see what will happen.
Thank you for reading. And i am waiting your comments.
A stochastic oscillator is a momentum indicator comparing a particular closing price of a security to a range of its prices over a certain period of time. It can show various things such as oversold and overbought. According to daily candle graphic stochastic indicator shows it is oversold. So we can expect that MATIC/BTC will rise up. Moreover weekly stochastic oscillator increasing so we can expect at least a few week increase in MATIC.
On the other hand Fibionacci retracement indicator clearly shows that it is strong support on 217 satoshi. If the price closes over this level (it seems it will) 217 satoshi will be new support. And 250 satoshi will be new resistance. Let's wait and see what will happen.
Thank you for reading. And i am waiting your comments.