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MATIC - Weak Consolidation (As you asked)MATIC is consolidating after going through some corrections, but it still looks weak. I would not open long positions on this coin for now. I'll wait after it crosses the resistance and after the closure of the first 4H candle above that area; only then it would be safe. I've set the support areas for you guys if you're into opening short positions. If I want to sum it up: Don't open Short or Long because this coin hasn't decided which way to go for now. I'd call it Neutral! Current Market Price: $1.4150 Good Luck Tell me your ideas. Like and Share
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by ShawnMCR
Polygon (MATIC) - June 9Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (MATICUSD 1W Chart) We need to see if we can move above the 1.98774393 point by moving up along the uptrend line. If it goes down, we should see support from the 0.74329777-1.07283403 zone and see if it can move higher. This section is an important section for continuing the uptrend, and if it is supported, I think it is a good section to buy. A move along the uptrend line (1) is expected to create a big wave in the long run. (1D chart) We should see support at the 1.47375163 point and see if we can move along the uptrend line. If it goes down, we will have to wait and see if we can converse on the 1.22720775-1.63364447 section. If it falls from the 0.82077103 point, a Stop Loss is required to preserve profit and loss. However, it may follow an uptrend line, so you need to trade cautiously. To continue the uptrend, it should move towards the 1.63364447-1.83686282 zone for support. ------------------------------------- (MATICBTC 1W chart) It seems important to get support in section A. A sharp rise may weaken the support base, so trade cautiously. If the price maintains above the 1422 Satoshi point, the uptrend is expected to continue. (1D chart) We will have to wait and see if we can walk sideways in the 4293 Satoshi-5704 Satoshi section. If it goes down, we should see if there is support in the 3823 Satoshi-4293 Satoshi section. If it falls from the 3823 Satoshi point, a short-term Stop Loss is required. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
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by readCrypto
2
Matic, half clear picture on btc pairsWe are in a stage that bearish & bullish scenario are equally possible and you see crvbtc is upper than its bullish trendline ( log) and you might expect pullback but btc lower than 36 will be false break out on crvbtc and it's probable, also pullback & continuation is equally possible eth is facing strong resistance which is subject to break out if btc breaks its upper bearish pennant line however if you like to check weekly time frame you are going to see short term bearish scenario on eth is possible What that means? Well stay away if you are not sure What about matic Matic is more subject to bearish moves Parabolic run would retrace harder, i see bearish sign on force index and kvo, low volume signals change in trend in my opinion, so i say higher probable short case retrace on btc causes drop in matic as a result of my idea Take care
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by UnknownUnicorn10828932
12
MATIC copying ETH's previous bullish action?I knew I saw this pattern already in other charts, mostly in a bigger timeframe, 2 fractals, forming higher lows and lower highs, hovering above the 200 EMA and the 21 EMA briefly visiting the 100 EMA. Quite identical scenario between Matic, 4H chart vs ETH, 8H chart on the left chart is visible.. Matic/Polygon is one of the few, or maybe only coin that is hovering above the 21 daily EMA (here not so clear as this is the 4hr timeframe). If we won't break below the yellow ascending trendline and below the 100 and 200 EMA, we could see a bullish continuation, together with Bitcoin being the catalyst. This is still a scenario, and not a guarantee of-course.
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by Wolverinos
7
Read this before buying MATIC (Eduction Post) Here is the analysis of MATIC. MATIC is rejected from the resistance zone and also from the uptrend channel upper line resistance. MATIC broke the uptrend channel in the downward direction. MATIC is near all-time and increased drastically in the last few months. Also if you see the market cap it is $12 Billion and MATIC rank is 10 among all cryptocurrencies. So the upward potential is low because of the high market cap. We did not suggest you to open a long position in MATIC here. If you have MATIC already hold with stop loss. Let it come down and stable in a range for accumulation. The support zone for MATIC is $1.75-$1.85 and if broken we see more downside movement. #No financial advice
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by Bitcoinik
MATIC - Bullish? Let's find out!Looks like a Bull Flag to me! but it's fighting resistance right now so we might see a little correction for now... There are 3 support areas holding the price up in case of a correction, If the price keeps consolidating as it is right now, then we might see a pump for higher prices. If you're looking into opening long positions, wait for the closure of the first 4H candle above the resistance area. then open your long positions and aim for the TP areas as shown on the chart. NOTE: This usually happens when a coin gets hot on crypto platforms: it might go down by a little and then get back up to a new high. Good Luck Tell me your ideas. Like and Share
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by ShawnMCR
2