We looked at MATICBTC as the "Perfect Bull Run Example", you can see it all here:
After such a strong run, lots of people are wondering what will happen next...
For MATICBTC a strong correction followed, this is normal after a strong bull run... Now, let's take a look at why this correction might be over...
Feel free to hit like now if you want to show your support... Let's get started!
MATIC Network ( MATICBTC ) Correction Over
- First, we can notice that MATICBTC retraced by almost 80% from its all-time high. Normally we see an 80% retrace after a strong bull run... This point has been met.
- correction complete. We can a classic correction wave completed.
- MATICBTC's price went just below the 0.786 Fib. retracement level from the last wave.
- hit oversold and bounced strongly; now sitting on the side.
- Trading above EMA10 and EMA100.
- Increasing trading .
All the signals above are pointing to the and of the correction... action might follow... Targets and support levels detailed on the chart.
Enjoyed this content?
Hit follow, like or leave a comment...
Thanks a lot for reading.
I'm relatively new to TA (as you might remember in a previous conversation). I was thinking that placement of the fib tool is SO important. Analysts often place at the tops of wickes. But look what happens when it's placed at the double top/candle body (strongest resistance?)....perfect retracement to .786 EXACTLY. What I've observed is the math is extremely reliable. We have to understand/unlock its logic.
Thanks a lot for sharing.
Thanks a lot for the support.
We stay in touch.