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MATICBTC trade ideas

MATIC/btc the wait tradeThis is a big call but requires some patients to see how this is going to play out, for now matic is still in a slow bleed and heading towards a level on the higher time frames that created some demand. Expecting selling pressure to slow down soon with a divergence building on the CCI, not expecting a reversal and more so a consolidation forming a new bear flag. If we get this bearish pattern Ill be taking an aggressive entry at the top of the range to offer a high RR of around 7-8:1 at 1R Targeting around .00001678 sats from where we had market structure back in may, since the run matic had being quite parabolic im expecting this to continue to retrace a good 70-80% from the new high from a base of around the 500 sat mark. My target is basically the 786 which ill be more than happy to front run at 7:1
MShort
by DeNomics
MATIC/BTC, Uranium, Technical Outlook, Edition #49 (12/07/21)Uranium, one of the most remarkable elements on our Periodic Table, and quite possibly the spark renewables need to push away from reliance on dirtier energies. Demand for renewable energies moving forward will continue rising as older infrastructures deplete and move to more sustainable alternatives. The “going nuclear” narrative is not going away anytime soon, and this places Uranium in an incredibly positive spotlight for the years to come. Let us extend this gaze into the Global Uranium ETF, $URA, which had only recently broken out after following a decade long correction from the all-time-high of USD 134p/Oz. URA - 1 Day (1D) It appears that URA is currently cooling off after a 250% rally from the USD 7p/Oz low in March 2020. Using the Fibonacci retracement tool with key moving averages (EMA and MA), one can see that URA has fallen below D1 20 EMA (GREEN) support and consequently lost the D1 50 MA (RED). This intersection of the D1 20 EMA (GREEN) and D1 50 MA (RED) has resulted in a bearish twist known as a ‘Death Cross’ suggesting that a correction is now well underway. Where to next? The 0.382 retracement level at USD 17.35 also lines up with the D1 200 MA (BLUE) and uptrend support from the March 2020 low. In other words, if URA is likely to bounce somewhere then it is going to be around USD 17. Polygon (Matic) We are going to be doing things a little differently regarding the Cryptocurrency forecast tonight, our subscribers have voted for a MATIC/BTC D1 chart and that is what they shall receive! Polygon, MATC/BTC - 1 Day (1D) Matic is clutching on to 3000SAT support by the skin of its teeth. The D1 20 EMA (GREEN) and D1 50MA (RED) are both bearish while they remain above the current Satoshi value. More concerningly is the lack of support in the structures below MATIC/BTC until about 1500SAT which is where the D1 200 MA (BLUE) waits. Should Bitcoin Dominance (BTC.D) rise then it is unlikely that 3000SAT support will hold. Furthermore, other scaling solutions like Optimism and Arbitrum are in the late stages of development and are ready to deploy their respective scaling solutions for Ethereum. This combined with the bearish technical factors may result in Matic taking a significant short term bearish trend. However, Matics TVL (Total Value Locked) is still stable, although it has dipped from its all-time high. It seems traders and yield farmers are using Matic as a solution to base layer transaction fees, and Matic has solidified itself as a solid layer 2 network for Ethereum, with dozens of projects launching on it in a small period of time. That being said, they face a significant threat from up and coming scaling solutions for Ethereum. Optimistic and zK rollups could make Matic obsolete unless Matic somehow innovates and continues to scale Ethereum to new heights. Q’s Conclusion Uranium is a fundamental building block for nuclear power, so a bearish re-test would be a great place to accumulate and build a position and exposure to the element to ride the green energy wave. Matic is an extremely strong layer 2 solution from Ethereum, however continuous innovation in the space put it at risk of becoming an obsolete side-chain. See you again for the next update. - q
MShort
by UnknownUnicorn22694773
MATIC.BTC (Y21.P5.E1).Nice formationHi All, Its been a while since I did a static post and I tend to post these elsewhere, refer to my signature. I am in the belief that BTC will try to get to 36.5k and doing so will give some of the oversold ALTs a chance to rally. Here with this formation makes sense however it can easily go the other way, if I get my count wrong. Hence wait for confirmation with the break and a few other trading check lists. Eg. indicators, MA cross over and BTC at the time. All the best, S.SAri s3.tradingview.com Looking at the daily, we have the 50 EMA as resistance. Breaking this will be confirmation on the 4 hrly s3.tradingview.com
MLong
by ssari
2