SHORT $MATICAlts are looking like they are putting in a top here
Distributions
High risk, low reward for bulls here if entering new positions.
MTCUSD trade ideas
MATIC ripping higher!Easy story
Got 2.618 on wave 3, gonna take 4.236 on wave 5
Reassess to 8.236 if wave 3 extends to 4.236
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Polygon: Bug 🪲Polygon has got the bug – regarding the green zone between $0.87 and $0.71. And just like a bug, the altcoin has been crawling above it, tipping it here and there. Although Polygon could have already finished the current movement by touching the green zone, we expect it to scramble a bit deeper still to complete wave 4 in green. Afterwards, the altcoin should flap its wings and buzz upwards.
Matic/Usd Elliot Wave AnalysisOne of the cleanest alt elliot waves structures out there. Not hard to see that there is still a bit of downside to go before completing the larger side wave c of the wave b correction. After which we all go to the moon right? Lol.
MATICUSD Bullish ForecastMATICUSD looks bullish and there are two potential price targets towards the 0.960 area level.
There might be a retest of the low before a rise to the current candle structure.
MATIC LONG What's up gang
With great sadness I report to you today with bullish news. I'm typically a trigger happy bear (in bear markets of course) but this ETH merger news is a perfect storm for a much needed relief rally. After all, MMs know they need to catch retail off-guard. Sentiment seems mixed at the moment. I believe it's highly probable ETH leads the market into September for a 'sell the news' event.
We've seen price push up for weeks on big ETH news events in the past, and this seems to be no different.
That being said I think Alts will gain strength the next few weeks for some easy dough before BTC/ETH make their macro Lower High, and push down for another leg to 2022 lows.
If you're going to play alts these next few weeks it's prudent to pick the shiniest - MATIC is one of them in my opinion.
1) still has a retail cult following
2) big mover in the past
3) very due for a sentiment changing leg up
I feel it in my gut that tides are shifting. It won't be long before we resume carnage and everyone is in despair (again). Let's convince retail that the bear market is over, commence a face melting pump, and dump on them just like we always do.
Clockwork.
NFA and Happy Trading.
matic tendency to infinity
Matic will rise to 0.92 then will rise to its other scale at 0.93 to continue its trend to 0.9750 if you like my analysis help me with a reputation thanks for reading me
MATIC - TRIANGLE ASCENDENTWe probably are facing a formation of a Triangle Ascendent with one premature breakout confirmation.
matic in free fall
downtrend matic will drop to 0.879 and then continue to drop to 0.855 to reach 0.72
Matic - A tale of two TrendlinesPart of what makes trading so difficult is the multiple layers going on at once, and which one will win out. At hand is MATIC, which could be having an overshoot ( bearish since this will lead to a breakout the other side, and possible reversal. OR, MATIC could be on a steeper trend up after breaking the downtrend.
Matic is looking goodIf we break trend i think matic will fly. lots of consolidation squeeze looks immenant
downtrend maticMatic goes down to its point 0.879 and then goes to its limit according to my analysis to 0.835, maybe there we will have a rebound
Matic in long to its topMatic will go down to 0.899 bounce back up to its limit 0.993
what do you think?
Matic climbing to the topMatic will go down to 0.8973 bounce back up to its limit 0.993
what do you think?
Polygon (MATIC) x Total volume traded on UniswapAs per the bearish divergence from February 2021 to May 2021, this indicator has early signaled the top.
Now the traded volume is about to exit a bearish channel.
We also have an expansion wedge that is about to be broken along with the 50% retracement.
Matic going down to the topMatic will go up to 0.8973 low to 0.855 and then 0.835 to continue down to its limit 0.72
Matic will lower to its top
Will drop again to 0.855 and continue to drop to its limit at 0.72 and then take off to 0.993
Matic goes down to his limitMatic will go down to 0.893 it will be its limit and then it will start to go down further to 0.72 and there we will go long
MATIC is not done yetMATIC is holding support at 0.93 which is the daily 0.236 fib retracement from recent high to low. Touched and help support on 4H lower Bollinger band
Once that yellow trendline is clear, MATIC should see another quick test to $1. Then the show begins... S/R flip of $1 will propel MATIC to $1.18 quickly with my main target of $1.30
Good Luck
MATICUSD Short PositionIf the price breaks the neckline, the minimum price target of the pattern will be 0.56. In this manner, the pattern on the chart may provide an opportunity to short MATICUSD for a profit of 26.39%.
MATIC Pullback?Look for MATIC to pull back to the orange box.
I have a target of $0.80 down to $0.73
Entered: $0.975
Stop Loss: $1
Good Luck
