Appreciation of MATICBTC

Updated

Just posting a snapshot of a bullish looking MATIC which I really regret not picking up in Jan'21. Not adding it to my bag or trading it in the foreseeable future, but it is worth following MATICBTC so as to seriously consider adding it to my bag for the next bullrun.

Note

Just to highlight that I'm neither long nor short for MATIC. I can't deny MATIC has potential, especially from the fundamental perspective, but my primary aim is to watch and document MATIC's price action for the coming months.

Note

As mentioned, there is divergence between the fundamental and technical aspects of MATIC. Let's try to discern MATIC's personality. First thing first, let's see if MATICBTC can maintain this breakout and break through the resistance levels at 0.500 and 0.618 Fib. My wild guess, and I must emphasize that I have not followed MATIC long enough to provide any reasonable forecast, is that MATICBTC will hit at least 0.00005000 BTC (ie width of channel). Just a wild guess.

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I'm glad that I posted this analysis, however lame it might be. Publicly commiing to not adding MATIC to my bag exerts a strong force against FOMO. I still do not understand MATIC's personality enough, and will thus not engage in any trade.

Note

• Retested and confirmed the parallel channel as an area of significance.
• The forecast that MATICBTC will hit at least 0.00005000 BTC (?0.000054) thus gains additional weight.
• Fib level was also tested and potentially confirmed as support. Lending strength to the possibility that Fib levels were appropriately identified.
• Let’s see if MATICBTC can hit 5000, followed by 5400 and 6651.

Note

MATICBTC indeed hit and broke 5000, reaching the resistance level at 5663.
The current correction looks healthy.
MATICBTC looks bullish if it closes the weekly above 4887.

AlphaBravoCharlie77

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