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MATIC: RARE Pattern ! Three Drive spotted 📉

📉 MATIC - USDT 📈
The three-drive is a rare price pattern formed by three consecutive symmetrical moves (or drives) up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. this means that we SHOULD bottom soon, at least. And the next landing zone could be a good accumulation point.
At first glance, it may appear bullish - since the price is now consolidating under a "resistance zone", which is normally a bullish indicator when the price is INCREASING, but not when the price is decreasing.
This is infact not consolidation under a resistance zone, but should be seen instead as another failed bounce on a key support zone.
The immediate price we can expect to see in the short term is 0.59c, however this zone was already tested with a wick - meaning it will be weaker when we head there for a second test.
Although it's a great alt to have as a part of your diversified portfolio; I've been bearish on Matic for a while, with my previous update also cautioning sell for short term:

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CryptoCheck
$BINANCE:MATICUSDT
The three-drive is a rare price pattern formed by three consecutive symmetrical moves (or drives) up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. this means that we SHOULD bottom soon, at least. And the next landing zone could be a good accumulation point.
At first glance, it may appear bullish - since the price is now consolidating under a "resistance zone", which is normally a bullish indicator when the price is INCREASING, but not when the price is decreasing.
This is infact not consolidation under a resistance zone, but should be seen instead as another failed bounce on a key support zone.
The immediate price we can expect to see in the short term is 0.59c, however this zone was already tested with a wick - meaning it will be weaker when we head there for a second test.
Although it's a great alt to have as a part of your diversified portfolio; I've been bearish on Matic for a while, with my previous update also cautioning sell for short term:

_______________________
📢Follow us here on TradingView for daily updates📢
👍Hit like & Follow 👍
CryptoCheck
$BINANCE:MATICUSDT
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discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.