MATIC BMR ReversalCause: breakout failed, reached resistance
Effect: breakdown to previous range high
MATICPERP trade ideas
Matic - Going Long HereI think Polygon is going to have a large part in the next phase of ethereum and maybe crypto at large, so I've been looking for an entry into MATIC.
Well here's my entry.
Bitcoin pulled back hard today, and brought all the coins with it. I'm seeing Matic finalizing it's downtrend, with an overselling event, which brings prices to the bottom of the yellow range.
That should be a strong support level, to finalize the last 2 legs of this summer's rally. I may take profits there, depending on the macro.
MATIC - Trend Overshoot and Triple TestPrediction drawing.
I believe this overshoot will coincide with a failed breakout of the range/triple test, so I'm expecting prices to break the trendline, and retest the bottoms of the range.
A rejection here is bad news beras for Matic Update on my prior post. Matic did indeed see a squeeze on the pendant formation from earlier. However, without enough strength and upwards momentum, it appears we may have an unsuccessful break through of local resistance point ~0.93 area; This combined with the poor narrative of Tornado Cash vs SEC could mark a failed breakout and a corresponding leg down. Watching $ETH and $BTC moves accordingly.
MATIC - Will Push Higher After The RetestMATIC it's going higher, after it tests in the coming hours-days the diagonal trend.
Invalidation if it closes below $0.92 on the daily.
Has Matic corrected enough?Still think there's room to go down, if this wave corresponds to a 4, then we should expect at least or less than 38%, waiting for demand to be met around .30
NFA
MATIC-USD (Daily)1. Price Action
- Omega Trend: BULLISH
- Flow: BULLISH (recent retest of signal line = me likeyyyy)
- Deviation: BULLISH (heating up a bit though)
2. Technical Analysis
- Breakout of the EMA20 : BULLISH (although we might retrace to grab liquidity)
- Close local resistance: BEARISH (usually short term though)
3. News
- Rising TVL score: BULLISH
- Meta NFT Partnership: BULLISH
- Coinbase support: BULLISH
4. Moon Score
7/8 (BULLISH)
Two Scenarios:
1. We break local res to 1.08-1.10 then correct to current price around 1.02-1.04, then moon!!!
2. We retrace to 0.98-0.96 to liquidate some leverage longs then send it back to 1.10 and beyond….
Polygon Matic and the penny crypto areaPolygon Matic and the penny crypto area
Yesterday Matic closed it's daily candle above $1 - but seems loosing this important mark again
Since this has not happened yet we are still out of the penny crypto area
*not financial advice
do your own research before investing
Getting ready to fallChart is labeled, I'm seeing these distribution patterns in LTC, BTC ect.. This one is looking great. Could be another push yet higher, track it with trendlines on the 1hr and 4hr along with the RSI. Would love to see another push up with one more shot of bearish divergence on the RSI... as the trendline breaks I'm going short with sl above wherever the high is set...By the looks of these charts crypto is about to get some bad news...be patient, keep risk under control, lots of money to be made next couple weeks
SHORT $MATICAlts are looking like they are putting in a top here
Distributions
High risk, low reward for bulls here if entering new positions.
MATIC ripping higher!Easy story
Got 2.618 on wave 3, gonna take 4.236 on wave 5
Reassess to 8.236 if wave 3 extends to 4.236
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Polygon: Bug 🪲Polygon has got the bug – regarding the green zone between $0.87 and $0.71. And just like a bug, the altcoin has been crawling above it, tipping it here and there. Although Polygon could have already finished the current movement by touching the green zone, we expect it to scramble a bit deeper still to complete wave 4 in green. Afterwards, the altcoin should flap its wings and buzz upwards.
Matic/Usd Elliot Wave AnalysisOne of the cleanest alt elliot waves structures out there. Not hard to see that there is still a bit of downside to go before completing the larger side wave c of the wave b correction. After which we all go to the moon right? Lol.
MATICUSD Bullish ForecastMATICUSD looks bullish and there are two potential price targets towards the 0.960 area level.
There might be a retest of the low before a rise to the current candle structure.
MATIC LONG What's up gang
With great sadness I report to you today with bullish news. I'm typically a trigger happy bear (in bear markets of course) but this ETH merger news is a perfect storm for a much needed relief rally. After all, MMs know they need to catch retail off-guard. Sentiment seems mixed at the moment. I believe it's highly probable ETH leads the market into September for a 'sell the news' event.
We've seen price push up for weeks on big ETH news events in the past, and this seems to be no different.
That being said I think Alts will gain strength the next few weeks for some easy dough before BTC/ETH make their macro Lower High, and push down for another leg to 2022 lows.
If you're going to play alts these next few weeks it's prudent to pick the shiniest - MATIC is one of them in my opinion.
1) still has a retail cult following
2) big mover in the past
3) very due for a sentiment changing leg up
I feel it in my gut that tides are shifting. It won't be long before we resume carnage and everyone is in despair (again). Let's convince retail that the bear market is over, commence a face melting pump, and dump on them just like we always do.
Clockwork.
NFA and Happy Trading.
matic tendency to infinity
Matic will rise to 0.92 then will rise to its other scale at 0.93 to continue its trend to 0.9750 if you like my analysis help me with a reputation thanks for reading me
MATIC - TRIANGLE ASCENDENTWe probably are facing a formation of a Triangle Ascendent with one premature breakout confirmation.
matic in free fall
downtrend matic will drop to 0.879 and then continue to drop to 0.855 to reach 0.72
Matic - A tale of two TrendlinesPart of what makes trading so difficult is the multiple layers going on at once, and which one will win out. At hand is MATIC, which could be having an overshoot ( bearish since this will lead to a breakout the other side, and possible reversal. OR, MATIC could be on a steeper trend up after breaking the downtrend.
Matic is looking goodIf we break trend i think matic will fly. lots of consolidation squeeze looks immenant
