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MATICBULLUSD trade ideas

MATICUSD versus VARAUSD Correlation - Merry Christmas BullsOn this chart is why I do not use lower time frames to make large trade decisions and why I do not set a stop loss based upon this data... MATIC is the chart on the right, we can see clearly that a bear flag that is circled developed into a very tight squeeze pattern. The result of any squeeze is a breakout, and it is honestly 50 /50 chance of going up or down especially on the lower time frames. Squeezes occur simply out of indecision in the market. Either very large order walls or lack of volume will result in a breakout. Statistically, the longer that this squeeze formation is the more likely that the asset is going to break out to the upside. (If you don't believe me, look at any chart). Something that I have noticed over my many years of trading high risk assets, especially when dealing with coins that are immortal blockchain, DAO, AI, or DEX coins is, when you are shopping for a moonshot, find one that has been in a flat bear flag for a long time... hence why I don't look at these lower time frames. Look at VARA now, its correlated directly to MATIC only because they are basically the flipside of the same idea. One is a little older than the other hence the higher volume. But if we were smart, we would keep a close eye on MATIC when trading VARA since when MATIC moves, VARA follows, wouldn't you agree? So, traders using lower time frames would have seen this bear flag and would have simply taken a short or long position based upon it. I personally would short there simply due to the fact that I do not go long on a bear flag unless it is very long in a time frame to the extent that I can visually see it on the weekly. Now, moving on to the 23 hour chart and why I prefer it to the Daily. The daily is used by everyone and yet the 23 hour chart provides us with a clear view of 24 hour rest periods where assets just sit within a very small candle that results from inactivity. Using the 23 hour and zooming way out so that you can see the weeks before you in total will help pick up on these squeeze trades. It isn't perfect, it is my idea, and I am not a financial advisor.
COINBASE:MATICUSDLong
by fritbjorn
VARA USD & POLYGON MATICUSD Market Correlation, Bullish ReversalI have the daily on my chart to demonstrate the micro change in market structure that occurred this morning following the previously predicted pullback that occurred with BTC impacting the entire crypto market. MATIC and VALA remain perfectly correlated since August with variances existing in very small percentage points. On the Daily you see the lower B Band is equivelent to the middle B Band on the Weekly demonstrated in my previous charts. Here we see the rejection off of the local bottom which is the lowest price point on the chart followed by a rally which hit the trapped longs existing at approximately $0.04 on the VARA short to pull back and reject off of the massive order wall that exists between $0.0195 and 0.02 respectively. This order wall are a massive amount of trapped shorts in this area where fear overtook the market and a number of holders sold their holdings which were gobbled up bargain traders. Bargain price for this token will be anything between $0.0195 where you will be lucky to fill an order to $0.025 and equivalent price to MATIC.
COINBASE:MATICUSDLong
by fritbjorn
VARAUSD Additional Bullish SignalsOn the monthly a rare green dot has appeared on the Monthly chart. With the channels remaining open and no indication of a red dot a reversal to the upside is statistically more likely than a continuation. Plus the lower price point is a retest of support. Also a massive order wall exists just above $0.02. And lastly, these signals are present in multiple correlates assets. Each of my posts show clear evidense a reversal has already occurred. It is BTC that has the alt coins sitting on the sidelines.
COINBASE:MATICUSD
by fritbjorn
[MATIC] POLYGON could get to 2022 highs up (+100%) to (+140%)Matic is looking to reach the highs from 2023 and 2024, if it manages to close the weekly candle above $0,61 would indicate a good chance to reach these levels. Moneyflow is increasing in the monthly timeframe and strong weekly bullish divergences since 2023. The target is between fibonacci retracement levels from feb 2022 highs to nov 2024 lows, fibonacci extension levels from nov 2024 lows to dec 2024 highs to the last low, monthly/weekly levels and anchored vwap from mar 2021 to now. TARGET: $1,2298 to $1,4781 up to (+140%)
COINBASE:MATICUSDLong
by Miketubarao
POL/USD 1W !Hello everyone, I invite you to review the POL/USD chart taking into account the interval of one weekend. As we can see, the price has been moving in a downtrend channel for a long time, where there is still room for price increases. Additionally, it is worth mentioning that a positive upward exit from the channel may result in a strong increase close to the channel height around $1,89. However, before this happens, the price must overcome the strong resistance zone from $0.78 to $0.91, and then the resistance at $1.09 near the upper border of the channel, which will open the way towards strong resistance levels at $1.58 and then $2.38. Currently, we can see the price staying above the support at $0.59 and further protected by a strong support zone from $0.47 to $0.28.
COINBASE:MATICUSDLong
by cryptodailyuk
MATICUSD - looking for potential price movementN Wave with E, V, N & NT projection and entry & exit strategy setup. The price has recently broken above the Kumo signaling a potential bullish trend. The Chikou Span is above the price, further confirming bullish momentum. Immediate resistance: NT level at 2.54. Support levels: Entry 1: Fibonacci 0.5 level at 2.32. Entry 2: Fibonacci 0.382 level at 2.21. Stop-loss: Fibonacci 0.114 level at 1.97, which aligns with a prior swing low. Kijun-sen and Tenkan-sen provide dynamic support. The Senkou Span A and B (Kumo edges) indicate an upward trend after a bullish breakout. Monitor the NT level (2.54). A breakout above it with volume confirmation could accelerate the price toward the first target (N at 3.13). Consolidation near NT without a breakdown may offer a better risk-to-reward ratio for entering long positions. Note: 1. Analysis for education purposes only. 2. Trade at your own risk.
COINBASE:MATICUSDLong
by mg6112
2
MATIC looks tired MATIC looks tired. - Distinct Wave 5 could be ending - Overbought Stoch RSI 8h - Broken down from long-term ascending parallel channel Decreased Network Activity: Despite an increase in active addresses, MATIC's price has declined, indicating that heightened network activity isn't translating into price support. Increased Selling Pressure: A rise in open interest indicates that traders are increasing exposure to MATIC, but if this is driven by short positions, it could lead to increased selling pressure and a subsequent price decline. A good strategy is repetitive, and even boring. Keep it simple and efficient.
COINBASE:MATICUSDShort
by JC7USA
2
Polygon (POL) AKA "MATIC" - Long Key LevelsPolygon (POL) or "MATIC" has experienced a strong rally recently, climbing from its monthly low of $0.40 to its current price of $0.70. This implosive move has brought the bulls to push POL to a critical descending trendline resistance level that the bears have held in a long-term downtrend since 2022. The key level to watch is the $0.76 mark, where the neckline and trend line meet with previous resistance zones. A breakout above $0.76 could potentially surge POL to it's 1st target which is around a resistance level of: $0.89. If momentum continues, then price action will retest between: $1.23 - $1.48 representing a potential upside of +100% from the breakout at this current point
CRYPTO:MATICUSDLong
by Bitcoin_Benny
Hypothetical inverse head&shoulders pattern will materialize…. . .-if- Polygon decides to correct here for even a few days we will officially start forming a right shoulder and then we get the benefit of having an even higher target than the current $1.06 target we are heading towards for the falling wedge breakout. There is also 2 double botto breakouts and a channel breakout on the horizon too just above those 2 targets so it should create a bunch of bullish momentum as all these overlapping bullish patterns start falling like a domino effect. Of course if Polygon instead chooses to continue pumping towards the $1.06target without correcting for a day or few then the inverse head and shoulders will not materialize. *not financial advice*
COINBASE:MATICUSD
by DrDovetail
3
Hypothetical inverse head&shoulders pattern will materialize…-if- Polygon decides to correct here for even a few days we will officially start forming a right shoulder and then we get the benefit of having an even higher target than the current $1.06 target we are heading towards for the falling wedge breakout. There is also 2 double botto breakouts and a channel breakout on the horizon too just above those 2 targets so it should create a bunch of bullish momentum as all these overlapping bullish patterns start falling like a domino effect. Of course if Polygon instead chooses to continue pumping towards the $1.06target without correcting for a day or few then the inverse head and shoulders will not materialize. *not financial advice*
COINBASE:MATICUSD
by DrDovetail
MATIC/USD Long PositionRSI Bullish Divergence: RSI shows a bullish divergence, indicating that although the price has been making lower lows, the RSI has been making higher lows. This suggests that the downward momentum is weakening, and a potential reversal to the upside may be forming. Trendline Break: A break above a significant downtrend line signals a shift in market sentiment from bearish to bullish. This is a key technical signal that buyers are starting to gain control. Break of Lower High (LH): The price breaking a previous lower high invalidates the downtrend structure and suggests the beginning of an uptrend, which is a bullish signal.
COINBASE:MATICUSDLong
by SohailChaudhary
Polygon should eventually head towards fallingwedge brkouttargetIt broke above this falling wedge awhile back then rode the top trendline of it as solidified support for a bt before it finally started seeing a bullish impulse in price action. It should eventually head towards the breakout target indicated by the dotted white line. Very likely to do so starting around the time of its upcoming golden cross. It’s also currently heading towards a double bottom breakout target, I will link a chart with that chart pattern below. *not financial advice*
COINBASE:MATICUSD
by DrDovetail
1
Value ZonePOLYGON on the monthly is currently in the Demand zone and in an descending triangle. One observation from prior months is that when there is a bullish candle in this zone there is bullish activity. However, descending triangles have the possibility to be bearish. The positives are that we have a bullish candle in the Demand Zone and some unfilled Wicks above that zone and we have healthy RSI readings. The negatives are is that it is in a descending triangle, and still in a down trend and global events and socioeconomic events could stir the markets. Have a great day
COINBASE:MATICUSD
by paper_Trader1775