POLYGON MATIC LONG $9.60 Target
Matic (now Polygon) Has been making some serious moves this year (100x). There's very few things in this life that I regret- not buying more Matic at $0.016 is one of them. Like many others in the crypto space- the Elliott Wave count suggests Matic is in the 4th wave of the 3rd wave. The 0.236 has been hit so this correction could be done but length of time doesn't 'look right'; so that makes me cautious of a triangle or deeper retracement. The 2.618 seems to be a common target for the 3rd wave at the moment so there could be significant upside left in the tank (6- 30x depending on the entry). Waiting patiently for a decent opportunity to get long...
Triangle:
If it comes down in 3 waves;
Buying: $0.866
Stop: $0.74
Target: $9.60
Deeper correction:
Retest of channel, 0.382 fib;
Buying: $0.33 - $0.36
Stop: $0.32
Target: $9.60
Never Trust. Verify.
D.Y.O.R. Not Financial Advice Just an Observation.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Triangle:
If it comes down in 3 waves;
Buying: $0.866
Stop: $0.74
Target: $9.60
Deeper correction:
Retest of channel, 0.382 fib;
Buying: $0.33 - $0.36
Stop: $0.32
Target: $9.60
Never Trust. Verify.
D.Y.O.R. Not Financial Advice Just an Observation.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Deeper correction (0.382) still in play