MATICUSDT 1W - Analysis - waiting for breakout

Matic USDT - 1W Analysis

I have chosen a longer period to look at a simpler structure to cut out the noise.

Given the market is pumping, there is a good chance MATIC breaks above the triangle might as well coincide with BTC breaking out of the 52K-53K resistance.

Plus, in the chance that BTC fails the 52K 53K resistance bringing the entire market down, MATIC has strong supports at 1.2,1.1, and 1.0.

Let's wait and watch.

Supports (green lines) and resistances (red lines) indicated. The Blue arrow indicates direction and not representative of timelines.

Let's follow price action and adapt our plans based on the supports and resistance indicated.

Always follow risk management. BTC can be volatile. We have seen quite a few flash-crashes off late.
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