Dear friends,
I apologize for my prior post on Matic (however, none of what I say is an claim that YOU should buy and sell based off it...) Just adding ideas here, as best I can.. I was very bullish there. But, in the last week we saw:
(i) BTC have an incredible move (Yay! :-) ) -- However, as is usual, this leads to liquidation of alts. Matic fell in part to this...
(ii) Binance will stop permission of US traders on their exchange come 9/12/19... Of coins to be traded on their (supposed) US Binance, Matic did not make the cut... For whatever reason. This is NOT good. Can anyone say why?
---> Adding to that, the only way we can save MATIC is if Coinbase adds it prior to 9/12. However, this is highly speculative. However, you could still "bag" your tokens on the exchange in hopes that it will be added post 9/12. Again, this is risky.
-------
All in all, this is a good example on how risky crypto is-- be it on news, and regulations, etc.
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The only good thing I see in MATIC now is that it has defended the bottoms since the big run. This means we could bounce again, the only way I see that happening on the charts is if this Inverse H&S goes through....
However, to remain bullish, note:
(i) WE MUST break above the massive descending triangle that we are in (not visual here, but if you go to the 4hr chart or daily, it is obvious).
---------------
This will be my last post on Matic in the seeable future so again, I will lay out the options that I see....
To be bullish:
(a) We need to go up on this Inverse H&S-- the shorterm target would be the descending triangle's top line.
(b) To be at all bullish after this, we would have to break through-- to the upside-- out of this triangle.
If bearish:
(a) This Inverse H&S doesnt follow through. The downside potential is 180-200sats. I cannot say what would happen after this, haha, obviously, it could go higher or lower from that- but higher highs would be much less likely (IMO)
Main point(!) Watch for this pattern to either play out or not play out.
And dear friends, trade safely at your own risk. And remember, trading is certainly not everything in life-- neither is money! We live in an incredibly beautiful universe.
Take care,
I apologize for my prior post on Matic (however, none of what I say is an claim that YOU should buy and sell based off it...) Just adding ideas here, as best I can.. I was very bullish there. But, in the last week we saw:
(i) BTC have an incredible move (Yay! :-) ) -- However, as is usual, this leads to liquidation of alts. Matic fell in part to this...
(ii) Binance will stop permission of US traders on their exchange come 9/12/19... Of coins to be traded on their (supposed) US Binance, Matic did not make the cut... For whatever reason. This is NOT good. Can anyone say why?
---> Adding to that, the only way we can save MATIC is if Coinbase adds it prior to 9/12. However, this is highly speculative. However, you could still "bag" your tokens on the exchange in hopes that it will be added post 9/12. Again, this is risky.
-------
All in all, this is a good example on how risky crypto is-- be it on news, and regulations, etc.
-----------------
The only good thing I see in MATIC now is that it has defended the bottoms since the big run. This means we could bounce again, the only way I see that happening on the charts is if this Inverse H&S goes through....
However, to remain bullish, note:
(i) WE MUST break above the massive descending triangle that we are in (not visual here, but if you go to the 4hr chart or daily, it is obvious).
---------------
This will be my last post on Matic in the seeable future so again, I will lay out the options that I see....
To be bullish:
(a) We need to go up on this Inverse H&S-- the shorterm target would be the descending triangle's top line.
(b) To be at all bullish after this, we would have to break through-- to the upside-- out of this triangle.
If bearish:
(a) This Inverse H&S doesnt follow through. The downside potential is 180-200sats. I cannot say what would happen after this, haha, obviously, it could go higher or lower from that- but higher highs would be much less likely (IMO)
Main point(!) Watch for this pattern to either play out or not play out.
And dear friends, trade safely at your own risk. And remember, trading is certainly not everything in life-- neither is money! We live in an incredibly beautiful universe.
Take care,
Comment:
Proper stop for this idea is actually 232sats..