MATIC is currently forming the formation of a bear flag pattern.
The price is undergoing a brief consolidation phase following a substantial drop, referred to as the flag pole.
The formation of the bearish move suggests a potential continuation of the downward trend, particularly after the consolidation phase.
We can also see the diminishing volume observed during the pattern formation that adds to the confirmation.
Traders should keep an eye on the price for a breakout accompanied by significant volume, as it would confirm the continuation of the downtrend.
The price is undergoing a brief consolidation phase following a substantial drop, referred to as the flag pole.
The formation of the bearish move suggests a potential continuation of the downward trend, particularly after the consolidation phase.
We can also see the diminishing volume observed during the pattern formation that adds to the confirmation.
Traders should keep an eye on the price for a breakout accompanied by significant volume, as it would confirm the continuation of the downtrend.
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Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.