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MTCUSD trade ideas

$MATIC | Double Top? McDonalds M Coming?Here we have one of my personal favorite cryptos & L2 sidechains, MATICUSD or Polygon. Potentially we may see, a downtrend because of a couple of factors. Let’s zoom in! I see the potential for a “McDonald’s M” or most notably referred to as a Head & Shoulders pattern which could signify a downtrend. Here are some reasonings & findings: * MATIC has touched the 0.8721 area twice now but has pushed through this resistance * Upper Bollinger Band has been broken previously * Nearing extreme overbought statuses on the RSI * After the initial push down from the 0.8721 area, 0.8456 acted as support for the potential “head” of the pattern * MATIC is still above the 200 EMA The last note should be taken into consideration when placing a SHORT trade for MATIC. It is still above the 200 EMA currently so a safe TAKE PROFT could be back to the “neck line” area of 0.8456 in case there is a bounce and your STOP LOSS above the resistance area of 0.8721.
COINBASE:MATICUSDShort
by CryptoHotep
Got my eyes on MATICMATIC is starting to boop the descending trend line, so I got eyes on it. Price and momentum are increasing. VWAP also coming up. Money flow pointing down on the 1d, but pointing up on the 2d and 3d. I'll be watching for a confirmed break and hold on the descending trendline. Scenario 1- Long Enter = 0.8350 - 0.8450 SL = 0.7730 Target 1 (POC) = 0.8930 Target 2 (Resistance) = 0.9718 Target 3 (VAH) = 1.0330 If it doesn't break and hold the descending trendline, then it will likely try to retest the VAL (also the 0.50 Fib). If it breaks the ascending trendline and the support/0382 fib area, I'll be looking for shorts Scenario 2 - Short Enter = 0.7650 SL = 0.7930 Target (VAL & 0.50 fib) = 0.6815
COINBASE:MATICUSDLong
by jacheee
$MATIC | Extreme over bought levels upcomingI recently took a long with MATICUSD and was a successful trade. It has also cleared previous resistance currently and looking toward the next short term (drawn from the Daily) resistance level, highlighted with the blue line. MATICUSD is also clear of the 200 EMA but if you look at past movements, the 200 EMA has not been respected by any means. We are also approaching extreme over bought levels at 70+ with the upper band of the Bollinger Band being broken. My eyes are on this and looking for a confirmation candle to SHORT from the most resistance line.
COINBASE:MATICUSDShort
by CryptoHotep
MATIC TRYING TO CONFIRM LOW FOR BREAKOUTMATIC is now testing the inflection point after breaking out of the supply line and is hanging above the pending confirmation low. We have gotten follow through price action from the bullish divergence and we are waiting to see where it will take us, as it’s still not over and the momentum could continue to strengthen. A backtest of the .75-.76 area to print the confirmation low is idea. Tight higher local lows raises breakout probability for more follow through, as we see buyers eating up the supply and raising demands…. We see price moves around midnight coming into the early morning hours Eastern time, so I expect to see something to play out. An entry here would be a tad more risky, but if you keep your stop loss manageable, this could be a nice trade. MATIC tends to move quick above .80. We are at the top of the range of a range bound asset. *BTC/ETH DEPENDENT*
FTX:MATICUSDLong
by BShellhammer
MATIC daily chart updateThe yellow rectangle marks the cup and handle pattern on the daily chart, but after breaking through 1.0166, the price did not continue to rise, but fell below 0.8488, invalidating the pattern. And MATIC presents lower high and lower low. The current price is around 0.7293, where a pin bar has previously appeared and made the price rise (arrow), and the highest is 1.0550. Represents an effective support range near 0.7293. - Pay attention to the support below: 0.6504 0.5715 - Before MATIC breaks through the downtrend line, the period smaller than the daily chart should avoid contrarian trading, and it is more appropriate to enter the market with an empty order. -
COINBASE:MATICUSDShort
by noah_chen
2
MATIC just have to hold 0.624 till early Jan, then TP @1.24 neckMATIC seems trying to expand 2 channels. The lower channel may be reached sometime early Jan2023. For now, Matic is just consolidating lately holding the 0.624 zone. This zone is where my important Fib levels are located like 2.618, 0.618 & 0.786. The ABC corrective wave most probably ended. All MATIC have to do is to hold 0.624 until early Jan then the next target will be 1.24, the neckline of the H&S pattern from top. Not trading advice
MLong
by xtremerider8
MATIC repeating ETH's first run : UPDATE 2022MATIC repeating ETH's first run : UPDATE 2022 check out my old analysis following this idea. the red squiggle from that one played out. was really hoping it wasn't over yet but alas the world seems to be crumbling down and it was already over. just deal with it. life goes on. there is always another train through the station as long as we haven't nuked ourselves into oblivion. anwayyyy this seems to be playing out nicely. the chart says it all. the repeating RSI pattern says we've bottomed already. or it seems that way anyway. RSI can be a tricky beast tho, you need to be careful with it. it does seem like macro wise there has been enough blood but there are some fundamental bad things playing out in the system. war/climate change/massive unraveling of over inflated assets/normal max inflation etc etc so i wouldn't be surprised if it goes down another big leg. two options there, clearly just wait and see if it all reverses on that first support coming up. then matic maybe a nice play. 250% sounds good to me. lets see how this one goes. good luck to you fellow degen. x
M
by Crypto-Quantum-Fox
Polygon: Jump, Jump 🎤We commence to make you – jump, jump, The Mac Dad’ll make you – jump, jump, The Daddy Mac’ll make you – jump, jump, Kris Kross will make you – jump, jump... As fitting as it is, we’re not really talking about the song by Kris Kross, which was released in February 1992 as the first single of their first studio album, but much rather commenting on Polygon’s next movement. Indeed, the altcoin should jump from the orange zone between $000 and $000 into the blue zone between $0.686 and $0.400 to finish wave (ii) in blue. Then, it should turn upwards, heading for the resistance at $1.05 and eventually crossing this mark. However, there is a 38% chance that Polygon could directly jump above the resistance at $1.05 instead.
M
by MarketIntel
1