Rising Channel in play - discussion
There is a healthy negative correlation between MATIC and BTC
this is the primary reason why MATIC rose by nature during the flash crash.
now power packed by various whale pumps during the week,
we finally have an obvious looking ascending channel.
the question now is,
how far will it go?
the rest of the Coins who have high correlation between BTC such as GRT/VECHAIN,
have shown the formation of the Inverted Head and Shoulders/Diamond Bottom, and is supposed to bounce back by nature.
this means that MATIC might fall, which is a common thing in a diverse portfolio.
Will the whale pumps continue to bring us to a parabolic rally?
either of these does not bode well for us,
if MATIC were to continue to rise, it might actually give us clues that BTC will fall.
which will have a greater impact on the overall market.
thoughts?
this is the primary reason why MATIC rose by nature during the flash crash.
now power packed by various whale pumps during the week,
we finally have an obvious looking ascending channel.
the question now is,
how far will it go?
the rest of the Coins who have high correlation between BTC such as GRT/VECHAIN,
have shown the formation of the Inverted Head and Shoulders/Diamond Bottom, and is supposed to bounce back by nature.
this means that MATIC might fall, which is a common thing in a diverse portfolio.
Will the whale pumps continue to bring us to a parabolic rally?
either of these does not bode well for us,
if MATIC were to continue to rise, it might actually give us clues that BTC will fall.
which will have a greater impact on the overall market.
thoughts?
Penafian
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