Long

Polygon (MATICUSD): Time To Blow Expectations!

Updated

Polygon (MATICUSD): BINANCE:MATICUSDT

For Matic, it is now assumed that we have developed the first Wave (a) around our 50% level at just under 90 cents. Now, we're working on developing Wave (b), which is currently at the 138% level and at the end of our resistance zone. This zone has been significant in several instances, holding up so far, and indications suggest it continues to hold. If we surpass this 138% level, it would imply that our limit order, or rather Wave ((ii)), has been reached, concluding this phase and entering Wave ((iii)). If this doesn't happen, we continue to expect a sell-off down to the 50% level, and at most to the 78.6% level.

Note

Once again, we had to adjust our analysis. The price has broken higher and continued to demonstrate strength. We are now 66% in profit since our entry. We believe we have developed Waves (iii) and (iv) where we previously assumed Waves (v) and ((a)). And now, in the coming days, we expect to complete Wave (v) or Wave ((i)). We will adjust the limit order as soon as we see weakness in Matic. Until then, it can still move higher, and there's no point in making changes now if we might have to revise them soon again. Therefore, we're waiting and will update you as soon as anything significant occurs.

Note

Polygon (MATICUSD): Trade Setup Long-Term

For Matic, we're now going to specify and activate our entry zone for Wave ((ii)), as we've seen a stronger sell-off overnight and believe that we've completed Wave (v). We should now be developing Waves (a), (b), and (c), with the question being where exactly (a), (b), and (c) are positioned. We believe that Wave (a) has concluded somewhere here, Wave (b) should come either as a flat or a zigzag, and then we'll see Wave (c) or Wave ((ii)) moving downwards. We expect Wave (c) to stabilize between the 50% and 78.6% levels, which is from 99 cents to 82 cents. We shouldn't really fall below this, as it might lead to the low of the overarching Wave 2 around 70 cents as a double bottom, though this seems more unlikely. Thus, we maintain the scenario that we're dealing with an overarching Wave 3, and our first long-term entry remains at break-even.

Note

🟢 Trade Update Long-Term🟢

Polygon #MATICUSD

Our limit order got filled on Polygon during the night and we are now eat the level of the wave (iv) where a wave 2 is normally expected. Now we have to be patient and wait how this entry turns out. We are not very close to our first entry and we are not expecting Matic to come down again to build a double bottom. But still we let our Stop Loss from the first entry at break even and we are going to update you accordingly on those ongoing setups.

Note

Currently, Polygon (MATIC) is having some difficulty following the entire market. We believe that there might be a further drop into the zone of 124.2 to 138%. This is our expectation if we consider that we are dealing with a zigzag pattern for Wave ((ii)). This is the level we would anticipate for Wave (c). Should we fall below our last retracement zone, marked in violet, and this trade hits the stop-loss, we then expect it could drop again to around 69 cents. While this could present a potential entry point, we already have an open entry with a stop at breakeven at 74 cents. Therefore, we need to observe how MATIC behaves. But currently, there is a possibility that we might see a reversal between 86 cents and 84 cents.

Note

For Matic, exactly what we anticipated has occurred. We touched the level at 127.2 percent and then moved away upwards. We are still slightly in minus with our second entry but have managed to turn things around so far. We will observe if we can maintain this momentum in the coming days. If so, we are very optimistic about gaining significant upward momentum.

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