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Matic Network | A Big Gartley Setup For Big Bullish MoveHi friends this hope you are well and welcome to the new update on Matic network token. The Matic token is again gearing up and so far it has moved more than 20%. In today's article we will do analysis on this token. The movement within the parallel channel: In my previous post we have seen that the price action of Matic network is moving within a parallel channel since December 2019. And the movement of the priceline within this channel is very much synchronized with Stochastic and Directional movement indicators. As we can observe that whenever the price action moves at the support of channel and the stochastic gives bull cross then finally when the positive directional indicator crosses up the negative directional indicator then the price action of Matic token moves up to the resistance of the channel. In my previous post the price action was trying to breakout the resistance of the channel. But unfortunately it is dropped down again. But this time the priceline of Matic token did not drop up to the support of the channel. And almost from the middle of the channel the price action again has started moving up. The reason is that before the price action reaches at the support the stochastic indicators gave bull cross from the oversold zone and positive directional indicator moved up without crossing down the negative directional indicator. After these bullish signals the price action moved up and so far we have seen more than 20% bullish move. At this time the bollinger bands is squeezed that is another indication that the price action can soon make a big to up or down side. The important role of MA7 with MA 25 combination: In my previous papers I described that it on the long-term weekly chart of Matic network the simple moving average with the time period of 7 with the combination of simple moving average with the time period of 25 has a very important role. As in the month of November 2019 we have witnessed when the 7 simple moving average crossed up the 25 simple moving average then it produced more than 247% bullish move. And I was expecting that when the 7 SMA will again cross up the 25 simple moving average then it canl produce another rally. And finally in the first week of June 2020 we received this bull cross between the moving average 7 and the simple moving average with the time period of 25. And so far the price action is moved more than 20% up. The Cup & Handle formation: Another reason for gearing up of Matic network is the formation of Cup & Handle pattern with consistency. As in my previous post have seen that priceline of Matic token completed the cup and handle pattern in Feb 2020 and produced more than 65% rally and started the formation of the next cup and handle. When I posted my previous article at that time the price action was moving down to complete the handle of the cup. I was expecting that it will be moved up to 0.618 Fibonacci retracement level. And as per expectations the priceline of Matic token retraced up to this 0.618 golden ratio and now gearing up. A very big harmonic Gartley move: If we switch to the 2 month time period chart. Then it is revealed that the price action of Matic network has formed a very big bullish Gartley pattern. After the first leg the A to B leg is retraced upto 0.786 Fibonacci retracement level that is a 1st confirmation of Gartley. Then B 2 C leg is projected between 0.382 to 0.886 Fibonacci projection (here I have ignored some extra spike) and this is the projection of A to B leg. And this is the second confirmation of bullish Gartley. And finally the price action has been retraced between 0.618 to 0.786 Fibonacci retracement level and this is the final confirmation that Gartley pattern has been completed. Now as per Fibonacci sequence of this pattern the buying and sell zone or the potential reversal zone and Fibonacci projection of this pattern are as below: Potential reversal zone or buying zone: 0.00000249 to 0.00000161 sats Fibonacci projection or sell zone: 0.00000320 to 0.00000485 sats Even though we can see that the price action has already spiked up to the sell zone but I am expecting that it will start a sequence of bullish candlesticks that will be completely entered in the sell zone soon. Conclusion: All chart patterns from short term to long term and the indicators as well are giving signals that the price action my again hit the resistance of the channel. However the movement of the priceline up to the support is still due, therefore we should take care of the stop loss strictly. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
MLong
by moon333
How Much Bullish Matic Network Can Be???Hi friends hope you are doing well today I want to talk about the Matic network, how it is turning bullish and how much the mainnet launch at the end of May can affect the price action of Matic token. The mainnet launch of Matic network is expected on 31st May 2020. Therefore the current bullish move of the Matic can be different from the previous bullish rallies and we can expect some exceptional moves in the price action of Matic network. Like we have recently witnessed in case of Tfuel. Movement within the channel and bullish signals: Now let's watch some technical analysis and on the daily chart it can be easily seen that the price action of Matic network is moving in a parallel channel since December 2019. The movement of the price action within this channel is very much synchronized with stochastic and directional movement indicators. If we take a closer look on the chart then it can be observed that whenever the price action hits the support of this channel and stochastic gives bull cross and the positive directional indicator (+DI) crosses up the negative directional indicator (-DI) the price action moves up and reaches up to the resistance of this channel. This time again when the price action reached at the support of the channel then stochastic gave bull cross and the positive directional indicator crossed up the negative directional indicator on 6th April 2020. Then we have witnessed a sideways move then finally the price action of Matic network turned very strong bullish and rallied more than 85% sofar. At this time the ADX of directional of movement indicator is at 40. That is showing the power of bulls and even though the stochastic is moving down and has given bear signals but the ADX is not moving down. So we can expect if the candlesticks will be closed to the resistance of the channel and the stochastic will again give the bull cross from here. Then the price action can break out the resistance at any time. Can we expect a breakout like it happened in previous channel? Here I would like to recall the previous down channel that was formed by the pricline of Matic network. The price action was moving within that channel from July 2019 to November 2019. At that time the price action was also very much synchronized with these two indicators. The stochastic indicator and Directional movement indicator. And If take a look at the final move of the price action then we can notice that when the priceline of Matic reached at the support on 26th October and the Stochastic gave bull cross on 5th November then on 14th November 2019 the positive directional indicator crossed up the negative directional indicator. Then price action turned bullish and after breaking out the resistance of the down channel a bearish candlestick was appeared just above the resistance of the channel. At that time the stochastic also gave the bear cross from overbought zone but again the stochastic gave bullish signal and we have witnessed more than 260% bullish rally. At that time the ADX line of directional movement indicator that was showing the power of bulls did not drop down. Even though the stochastic had given the bear cross. Now the similar move by the ADX and stochastic is happening in current channel as well. The only difference is that the bearish candlestick in the previous channel was appeared just above the resistance of the channel and this time the bearish candles are appeared just below the resistance. Cup & Handle patterns the bullish reversal signal: On the same daily chart we can also observe that the price action of Matic network is forming cup & handle patterns with the continuation. The previous cup was started from December 2019 and ended on Feb 2020. After the completion of cup the priceline moved down for the handle formation and retraced upto 0.618 Fibonacci level. That is the golden ratio of the Fibonacci retracement. And completed the handle of the cup. The it turned strong bullish now from March up till now the price action has formed another cup and at this time it is moving down to form the handle of the cup. So far it is not retraced even upto 0.382 Fibonacci therefore I am expecting that it will be retraced between 0.382 to 0.618 Fibonacci level to form a perfect handle of this cup. And as we know that this is the bullish reversal pattern. Therefore we can expect a very powerful bullish rally after the completion of this pattern. That can lead the price action to the breakout the resistance of the channel as well. Simple moving averages are turning strong bullish: On the daily chart the simple moving averages are also turning bullish. I have placed simple moving averages with the time period of 25, 50, 100 and 200. If we take a look back in October 2019 then it can be clearly seen that when the 50 simple moving average crossed up the 100 simple moving average and formed a golden cross the Matic turned very strong bullish and produced more than 260% rally. At that time the 200 simple moving average was not available as per binance exchange. Therefore I am noticing the golden cross between 50 and 100 SMAs. Now if we move back to the current situation then 50 simple moving average again moving up to form a golden cross with 100 simple moving average. And after this cross it can also form a golden cross with 200 SMA as well and that is considered as a very strong buying signal. Moving averages on long term: Now I would like to take you to the long-term chart to show you how much the matic is bullish on weekly chart. Here I have placed the moving averages with the time period of 7 and 25. On the weekly chart these two moving averages are very useful. I have noticed that especially on long-term charts these moving averages really work very well to identify the bearish and bullish trends. Now let's move back to the topic again and on this weekly chart we can see that the 7 moving average formed a bull cross with 25 simple moving average on 11th November and after that the price action rallied more than 160%. Now this is happening second time in the history of Matic network price action as per binance exchange that the seven moving average has cross up the 25 simple moving average again. Therefore we have very strong support of these moving averages on long term and this bull cross can produce a very strong bullish move that can lead the priceline of Matic network to achieve the higher than the previous highest price level. However the stop loss strategy is really very important to enter in such bullish trades. Therefore you should use any stop strategy before buying the Matic network. Or you can also useuse 200 SMA for this purpose. Contusion: Even though the price action has reached at the resistance of the channel but the bullish patterns and the moving averages are signaling for the break out. However if the price action will break down the 200 SMA then it may retest the channel support again. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
MLong
by moon333
4
#MATICBTC ANALYSIS .. TIME IS COMING I think the pump movement that we see from time to time in #MATICBTC will be repeated.. #MATICBTC has been on a rising trend for a long time.. I think vortex is the key indicator for #MATICBTC, when the vortex produces a buy signal from the reference level (1.02), we can easily see how meaningful it works at the price movements.. Although Vortex is far from producing a buy signal yet, it should be followed carefully.. I think time is approaching for #MATICBTC.. Disclaimer: What I wrote is not investment advice.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk.. I wish you all the best..
MLong
by OguzhanSengor
3
MATIC/BTC TA Update (Pullback retest 200 Day MA?)MATIC/BTC MATIC is showing a little bit of strength coming from a massive sell-off last Dec 10. MATC has 1 more chance to prove itself bullish if the price bounces off the 200D MA and the upward sloping trend-line support between 170 areas. If MATIC does that, There is a sign of potential short term growth up to the 250 sats region. For now, we will have to wait for a see in the coming days if MATIC will signal to buy pressure when reached key areas.
MLong
by PolarHusk