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Breakout at XMAS. Combining Fibonacci retracement with pitchforkTLDR: Matic breaks out on December 27th after completing a full Fibonacci retracement and Wyckoff accumulation sequence. (Updated from my post on Nov 23rd. Please push "play" on that one) I drew the Fibonacci retracement box backwards. Key levels are Fib 1.0 - $2.44 and Fib 0 - 0.62. The trendline predicts the breakout date. I think it is more or less XMAS day. I added a pitchfork for the first time. It added a bit of fun technical geometry to the drawing with some very interesting connections. See the little green arrow. Matic has the potential for a really explosive move above these Fib extension levels based on its historical performance. Check out the super old upper trendline at the top. If you haven't drawn a Fibonacci retracement boxes backwards, try it on SOL and MANA. FIL is in one now! You'll see the breakout dates and subsequent moves higher instantly. Looking forward to some comments. Best of luck. Not financial advice. Do your own due diligence. Have fun.
COINBASE:MATICUSDLong
by Gamehenge
2
MATIC Fibonacci and Wyckoff Accumulation Patten complete 12/29 TLDR: Matic breaks out on December 29th after completing a full Fibonacci retracement and Wyckoff accumulation sequence. Most of us have been frustrated by Matic not going to the moon yet. Why hasn't it broken out yet, we ask. This model could explain why. I have been drawing the Fibonacci retracements/extensions for the last few weeks and I think I landed on something interesting. The sequence begins when Matic makes its' all time high on May 18th. The candle stick closed at $2.44 at 4pm PST. The bottom was put in on July 20th at $0.62. As we rebounded off the lows, the trend line was formed at a 36 degree angle. Fib levels of interest on my model are 0 - 0.62, 0.236 - 1.05, 0.382 - 1.32, 0.5 - 1.53, 0.618 - 1.75, 0.786 - 2.05 and finally 1.0 - $2.44. Notice how the price action and candles are using the Fib levels and trend line over the last few months. The trend line reaches 1.0 - $2.44 on Dec 29th. Why I am excited about this... I also modeled the Fibonacci and Wckoff sequence for TSLA throughout this past year. The entire sequence lasted from Jan 25 until Oct 22. The bottom was set on May 19th. TSLA was trending below it's trend line until it went parabolic and caught up to it moving from the 0.786 to 1.0 Fib levels in only 5 days. On Oct 22nd TSLA broke out fiercely from $894 to $1109 in only 6 trading days. 1109 being the 1.618 Fib level. Here's an interesting fun fact. Matic topped on the day TSLA bottomed. Quite the rotation don't you think? How about a bonus prediction - TSLA tops out at it's 2.618 Fib level at $1457 on Dec 29th, the day Matic breaks out. So what does the chart say now? The 36 degree trend line puts the price of Matic fairly valued today at $2.05. Obviously, we are lower. But look how it's going to close today at 4pm PST on the 0.618 Fib level of $1.75. The MACD, RSI and Stochs just turned up today! We've got a nice green candle with healthy volume. Pretty cool stuff. Maybe patience it what we've been needing. Looking forward to some comments. Best of luck. Not financial advice. Do your own due diligence. Have fun.
COINBASE:MATICUSDLong
by Gamehenge
7
Polygon (MATICUSD) has Nested 1-2,i-ii Elliott Wave SetupPolygon (MATICUSD) has a wonderful nested "1-2,i-ii" setup in place after our recent pullback. In other words, we have a larger 1-2 in place and now a smaller-degree 1-2 in place as well with the rally and pullback over the past month or so. However, there reason to be cautious as this smaller-degree 1-2 has extended beyond the standard expectation of hitting the 0.382-0.618 extension range. While this could very well indicate incredible extension potentials overhead for the remainder of our 3rd wave, the structure can just as easily be interpreted as a giant A-B-C corrective wave up for a larger-degree B-wave fakeout rally, which can easily drop us deeper than our low from this past summer! I will remain bullish until we break the primary 1.00 support however. With this pullback, we may very well have our last window to deploy lump sums of cash into Polygon if you are trying to build your position. To those considering starting to dollar-cost-average (DCA) into Polygon (as well as all the cryptos in general), I would recommend possibly starting with a sizeable lump sum right away and then reducing your regular DCA purchases into the future. This would keep your cost-average lower as I expect the 3rd wave to really take-off (in other words, less buying at higher price levels). If we can hold our immediate upside support of 1.23, we are still looking at logarithmic Wave 3 projections of 4.86 to 6.35 with 6.35 being a likely strong resistance. Wave 5 projects to 7.49 to 9.78 but with a strong likelihood of extending to the resistance level at 12.85 for an 8.5x return. Finally, there is an outside shot that Polygon extends all the way up the major 0.618 extension level of 26.31 for a 17x return as our final top! But that will remain of low likelihood until we see strong extensions within the 3rd wave first. If history and fractal patterns serve as any indication, there's a solid chance of seeing a parabolic 3rd wave with this one! As this top along with the top of most altcoins will coincide with the MAJOR top expected in BTC and ETH, we may experience a devastating crash across the entire crypto world afterwards. That would be a great time to take profits and reallocate into other asset classes or even Stablecoins, which are designed to hold a constant value in the face of crypto sector volatility (just like Money Market funds or Savings Bonds). But until then, we've got a very bullish outlook! I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels. #matic #polygon #polygoncrypto #maticnetwork
MLong
by Critique-al-Thinker