BYBIT:MATICUSDT 1H tend chart - We could see a long-term support zone formed from the ceiling of a Darvas box. Also, there is a downtrend line kept resisting price. Now, price just broke out the upper downtrend line and took out the neckline of this potential inverse head and shoulders pattern. It's a bullish signal and our trading strategy as below. *can entry after confirming the candlestick still stand firm on the downtrend line in 4H chart - Profit Targets: a) 1.3065----Fib(0.618) b) 1.3598----Fib(1) c)1.4459-----Fib(1.618)
Stop losses: a) 1.1869----low of right shoulder - If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see!
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