🔥 MATIC Market Structure Still Intact. For now.

Over the last couple of months I have made a lot of analyses on MATIC and the bullish channel it was trading in. However, since last week's capitulation the bullish channel is not our pattern of focus anymore.

If we zoom out the chart, we can clearly that MATIC has bounced from the support line, which goes back all the way to May-21. In case of a bounce, I hope for a strong move towards $2 or so. Be aware that this is completely dependent on Bitcoin and the stock markets. If BTC continues to drop, expect a move towards $1.

Happy trading!