I 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.
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