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MATIC on a Head and Shoulders trying to avoid disasterThe Matic Network (MATICUSD) recently established trading below its 1D MA200 (orange trend-line), closing a daily candle below it for the first time since October 20. This alone is far from ideal for buyers but the price remains within the wide 0.690 - 0.770 Support Zone that is holding since July 26. However, we can't ignore the Head and Shoulders pattern since October 13 that has just been completed. If broken to the downside, this has the potential to drop as low as the 1.5 Fibonacci extension, which is at 0.380 with potential Support levels before that at 0.525 and 0.420. Until the Green Zone breaks though, the price can potentially rebound back to the 1D MA50 (blue trend-line) and the 0.970 overhead Resistance. The 1D ADX indicator seems to be in agreement. A closing above the 0.5 Fib at 1.000, invalidates the Head and Shoulders pattern completely and recovers the price towards 1.300. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
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by TradingShot
2
MATICUSD Inverse Head & Shoulders can aim at 1.400!The Matic Network (MATICUSD) made a strong green 1D candle yesterday, rebounding exactly on the 1D MA50 (blue trend-line). Being a Resistance since early April, Matic has turned the 1D MA50 into a Support and is holding it. There is the Lower Highs trend-line involved since the December 27 High but the pattern that has been developed since the bottom, is a strong indication that this time the trend-line will break. The pattern is as you see an Inverse Head and Shoulders (IH&S), which is technically a bullish reversal pattern and can target as high as the 2.0 Fibonacci extension, which is exactly at 1.400. That is even higher than the 1D MA200 (orange trend-line) that rejected the price last time in late March/ early April. In addition, the 1W RSI broke above its MA line for the first time in 2022, indicating that this bullish move can be sustainable this time. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
MLong
by TradingShot
2
Matic Trade Setup - Bullish Formation Ready To Breakout?Hello traders, here is a trade setup for MATICUSD. Matic is looking Bullish and may be setting up for a breakout and continuation to the target levels. - Price has been trading in a Bullish consolidation formation - Price has traded between the parallel channel and recently has been trending near the top. ** Be prepared for a breakout** - Ideally you should wait for a breakout and retest of the prior high before you enter the trade. - Aggressive traders can enter now if they are willing to take the risks. ** Tomorrow the CPI data will be released. If the news is positive Matic will most likely breakout and rally so keep a close eye on price action tomorrow. ** Thanks everyone and best of luck trading!
MLong
by natef1
2
MATICUSD A benchmark for the next bullish break-outI haven't posted a public idea on the Matic Network (MATICUSD) in a long time. Even though we might be 1 or 2 months away from a new parabolic rally, this analysis may serve as a benchmark to spot when you may enter buys in the market with a confirmed break-out. As you see the price action since the May 2021 High resembles the sequence from December 2019 to December 2020. In the later stages of that sequence, the price entered a narrow consolidation pattern which broke upwards when the 0.236 Fibonacci retracement level broke. The 1D Golden Cross (1D MA50 crossing above the 1D MA200) simply confirmed the break-out that initiated a massive parabolic rally. Right now the 0.236 Fib is at 2.452. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
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by TradingShot
1
MATIC could be ahead of a major rally.My most recent MATICUSD analysis was on the short-term, where the Channel Up patterns accurately illustrated a target for us: Now that this short-term 3.000 target was hit, I am shifting my focus on the longer-term correlations. With the use of the CCI on the 1D time-frame, I've spotted this fractal which if repeated, will be extremely bullish for MATIC. As you see, we are at the end of a Higher Highs pattern (green Triangle), which is similar to the one formed in January 2021. Those were the last days of MATIC accumulation before a major parabolic rally broke out. The CCI sequences are identical. Practically what this suggests, is that if the Higher Highs trend-line breaks (dashed lines), the coin may start a parabolic rally that can easily double or triple in price. Do you expect this to play out in the same way? -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
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by TradingShot
7
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.
M
by TradingShot
8
MATICBTC All targets hit. One last spike left?This is a follow up of the last MATICBTC call where both Targets got hit (0.00000268 and 0.00000350) as you can see below: Now I have found an interesting correlation for those of you who want to take some more risk. The similarities with the May parabolic rise are strong. That sequence is divided into two parts: first and second rise, the second being 80% of the first. Between the two a small pull back occurred. Similarly right now the first rise seems to be over and after a pull back we are now at the start of the second phase. If the second rise is also 80% of the first (as it happened in May) then the peak will be surprisingly on the May top of 0.00000575.
MLong
by TradingShot
4