tell me what you think of this. I don't see MATIC falling below the 0.0165 level and likely not below the 0.618 level of 0.019-0.018. the channel will likely mirror itself as seen in many new volatile coins and also seen in parabolas and their short history following.
the EMA and SMA 20 on the hourly are crossing above the 50 and 100 EMA and SMA. predicting a slight pullback to complete the wave then a breakout of the bull flag to create a new flag post to the upside. Target 0.048. Timeframe: next 1-3 days granted BTC doesn't fall apart. Pullback may drop as low as 0.0185-0.0225 as market depth is very even ATM.
Matic / USD Short-term price analysis
Matic Network has a bullish short-term trading bias, with the cryptocurrency gaining strength above its 50-period moving average on the four-hour time frame.
The four-hour time frame is showing that a potential head and shoulders pattern may be in the process of forming if buyers fail to break the current monthly trading...
currently the 0.5 holding. If this doesn't hold, wait and see if it bounces or falls through the 0.618 as a fall through this level would indicate that there is nothing stopping the price from dropping down to 0.012 which would be a HUGE retracement and I believe after that it is off to the races again with not as much insanity.
I see a bull flag forming here. Once we break the pattern, it is likely we will create a new flagpole with another huge 50% moonshot in a small frame of time. Be ready! Also I see this diving down to 0.02-0.0225 before recovering so DO NOT buy in now at almost 3 cents.
Here is what I believe will happen with MATIC after its parabolic run of 1200% growth. MATIC has thus far stopped at each fib retracement and is now breaking the 0.5 and should find support as sell volume is slowing down. Support will likely be at or a few percent above the golden 0.618 fibonacci somewhere between 0.0205 and 0.018.
IF this plays out as a head and shoulders pattern, the breaking of the neckline along with the 0.5 fib could take us back to the 0.618 fibonacci. this drops us to 0.023 give or take. if support at the 0.5 fib holds and we get a bounce or rise above the 0.382 I believe we make a new ATH over 0.045 within 12-36 hours. If not, sell what you have and enter in a new...
Looks like the 3rd pennant is forming since yesterday. Each time its broke out and up. Following up on yesterdays chart, MATIC is up 80% on 24 hrs. How far will this rocket go??? If have positions at .021 and .032, right now I feel like my target is between .16 (5x) .32 (10x).. but that could change depending on how this unfolds. There's really no way to be sure...
still holding the support line drawn yesterday and passing 0.04$ now. Will see resistance at previous high of 0.045 and before the psychological of 0.05
Looking good. Set stop loss at the 78.6% (1st fib retracement)
Fib was taken from market bottom a couple weeks back to ATH of 0.045
