MATICBTC Why surprised? This should have been expected.

MATIC left a whole lot of people wondering why it was massively sold two days ago. Well the answer is simple, it was rejected on the 1W Resistance. It was a move perfectly calculated on the trade idea seen below:

The rise prior to the rejection was easily seen on an early stage:

So what happens next for MATICBTC? Tough question given the panic on the market but based on the 1D RSI, we’ve just hit a support zone. If the price follows a 0.382 Fibonacci retrace and is rejected we may repeat a 2nd selling wave towards the 1W Support, which should be the next long term Buy Entry.

Tradingview link:

https://www.tradingview.com/chart/MATICBTC/CWkTeAFa-MATICBTC-Why-surprised-This-should-have-been-expected