Matic Distribution
I've got a fun one. I've been looking for some alt coins that have not had their major sell off yet and this one looks perfect. After its high in May there was a big increase in supply the day after in which thereafter it attempted a rally (Automatic rally) on increased effort yet a new high could not be made which we call the secondary test. then after that it came back down to make a lower low in July being the sign of weakness which starts the distribution process in which usually you want to see a higher high then the Buying Climax. which was finally achieved just a few days ago. Now even though the higher high(Upthrust) was made it could still run a bit higher although we don't know for certain whether it wants to continue on higher ill say its either already there or its getting close. I think it may depend on bitcoin, which is at a make or break point, a fall below the September low would really make the case for it. I am looking for an entry on a short on Matic and ill be looking for weakness on bitcoin to make that entry if bitcoin rallies further then ill wait but if i start to see it showing weakness i may make an entry with stops set fairly close and move my stops down as it progresses so that in case it does rally i wont get stopped at a loss.
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