Matic Discussion. Please Read & Comment
Updated
Hello everyone.
Can we talk about Matic?
What a crazy run, right? I saw someone post in late April (when matic was around 100sats)... Their post said "Buy at 50sats."
Holy shit. That's the call of the year.... Had I done this, I would be in Aruba right now ;)
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Whatever the case, we have already shead nearly 60% matics value since the top... Note, we know for cryptos that they usually shed 60-80% from their all time highs before another run.
I think Matic will do this quickly, and bounce back quicker than some may think...
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Reasons:
(i) Supply / hype / and project... Allow me to call ADA and BAT as examples.. They are considered decent projects. ADA has 10x the supply and hit a dollar last bull run. It now trades around 10cents.... BAT has about half the supply and trades at 0.36 cents...
Conclusion: Matic seems extremely undervalued as far as longterm potential goes. Is crazy to think Matic could hit a dollar in next bull run???
(ii) Low mktcap
Conclusion: room for growth.
(iii) Possible coinbase listing and mainnet launch later in the year...
Conclusion: Hype will pump this again.
(iv) Fast mover... Look at how quickly this thing drops and rises. Its incredible. It is not the typical months rise/ fall we see in other coins. Currently, it looks like the bull/bear markets in this specific coin last only 12 days. Wow! So yeah, we are correcting, but how long will it last?
I dont think it will last long at all.
(v) RSI. As soon as we see this RSI dip, shes flying. It is becoming oversold quite quickly on the four hour chart... And, because of reason (iv), the four hour chart seems like the best chart to do longterm analysis on at this point (shes a fast mover).
I guess. What I am trying to say is.. After this run, there is so much hype and fascination with the coin. Its low supply will create demand in the future. I never see this going below 100sats ever again. (opinion).
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End of the year target is at least 10 cents.
PLEASE COMMENT YOUR THOUGHTS AND DISAGREEMENTS/AGREEMENTS.
Can we talk about Matic?
What a crazy run, right? I saw someone post in late April (when matic was around 100sats)... Their post said "Buy at 50sats."
Holy shit. That's the call of the year.... Had I done this, I would be in Aruba right now ;)
-------------
Whatever the case, we have already shead nearly 60% matics value since the top... Note, we know for cryptos that they usually shed 60-80% from their all time highs before another run.
I think Matic will do this quickly, and bounce back quicker than some may think...
---------
Reasons:
(i) Supply / hype / and project... Allow me to call ADA and BAT as examples.. They are considered decent projects. ADA has 10x the supply and hit a dollar last bull run. It now trades around 10cents.... BAT has about half the supply and trades at 0.36 cents...
Conclusion: Matic seems extremely undervalued as far as longterm potential goes. Is crazy to think Matic could hit a dollar in next bull run???
(ii) Low mktcap
Conclusion: room for growth.
(iii) Possible coinbase listing and mainnet launch later in the year...
Conclusion: Hype will pump this again.
(iv) Fast mover... Look at how quickly this thing drops and rises. Its incredible. It is not the typical months rise/ fall we see in other coins. Currently, it looks like the bull/bear markets in this specific coin last only 12 days. Wow! So yeah, we are correcting, but how long will it last?
I dont think it will last long at all.
(v) RSI. As soon as we see this RSI dip, shes flying. It is becoming oversold quite quickly on the four hour chart... And, because of reason (iv), the four hour chart seems like the best chart to do longterm analysis on at this point (shes a fast mover).
I guess. What I am trying to say is.. After this run, there is so much hype and fascination with the coin. Its low supply will create demand in the future. I never see this going below 100sats ever again. (opinion).
-----
End of the year target is at least 10 cents.
PLEASE COMMENT YOUR THOUGHTS AND DISAGREEMENTS/AGREEMENTS.
Note
Decision time... Do we ride the trend line up or break down?Note
UPDATE!! A SUSTAINED BREAK AND HOLD ABOVE 320 IS EXTREMELY BULLISH. Or else we are going back down. Let's invalidate that double top! (short term). Hold above 320 and we are looking great.Note
Also, not to toot my horn... My call in the 70 day bear/bull cycles for this project was a unique call. As of now, its playing out like gold. Trend reversal right after 70bar bear trend. Let's go!
Note
70bar*** (not day)Note
********Double top on the 4 hour chart has been invalidated! We remain bullish on Matic :)
Note
Update::::::::: Since the crypto market is uncertain right now. Alts wont do well until BTC figures out what its doing.. However, Matic is outperforming all others (mostly).
Right now-- My pick up levels for more Matic would be at
(i) 300 sats (25% what you want to invest in Matic)
(ii) 275 sats (50%)
(iii) 250 sats (25%)
Not financial advise.
We can still go as low as 250 sats without invalidating the uptrend.
Remember, we did not have a double top. Now we are in a rising channel. This could be one of two channels. So, my reason for the levels of picking up Matic is as follows:
(i) 300 just for psychological reasons (in case of bounce there)
(ii) 275 is for the narrower rising channel
(iii) 250 is for the wider rising channel.
Trade safe folks. Crypto is fine! I feel good about alts in coming months-- how about you?
Note
Actually... Looking at the charts-- I cannot see Matic going down in a healthy fashion. Can someone help me on this?? Im sorry.
But, I looked at the charts and a breach of our current channel doesnt look good. In fact, we might not even go to 300sats if MATIC is bullish.
Updating chart soon. Its a tricky one. Be patient and trade safe- this is not financial advise. Just trying to help read this project's chart.
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