MATIC Fibonacci and Wyckoff Accumulation Patten complete 12/29
TLDR: Matic breaks out on December 29th after completing a full Fibonacci retracement and Wyckoff accumulation sequence.
Most of us have been frustrated by Matic not going to the moon yet. Why hasn't it broken out yet, we ask. This model could explain why. I have been drawing the Fibonacci retracements/extensions for the last few weeks and I think I landed on something interesting. The sequence begins when Matic makes its' all time high on May 18th. The candle stick closed at $2.44 at 4pm PST. The bottom was put in on July 20th at $0.62. As we rebounded off the lows, the trend line was formed at a 36 degree angle. Fib levels of interest on my model are 0 - 0.62, 0.236 - 1.05, 0.382 - 1.32, 0.5 - 1.53, 0.618 - 1.75, 0.786 - 2.05 and finally 1.0 - $2.44. Notice how the price action and candles are using the Fib levels and trend line over the last few months. The trend line reaches 1.0 - $2.44 on Dec 29th. Why I am excited about this...
I also modeled the Fibonacci and Wckoff sequence for TSLA throughout this past year. The entire sequence lasted from Jan 25 until Oct 22. The bottom was set on May 19th. TSLA was trending below it's trend line until it went parabolic and caught up to it moving from the 0.786 to 1.0 Fib levels in only 5 days. On Oct 22nd TSLA broke out fiercely from $894 to $1109 in only 6 trading days. 1109 being the 1.618 Fib level. Here's an interesting fun fact. Matic topped on the day TSLA bottomed. Quite the rotation don't you think? How about a bonus prediction - TSLA tops out at it's 2.618 Fib level at $1457 on Dec 29th, the day Matic breaks out.
So what does the chart say now? The 36 degree trend line puts the price of Matic fairly valued today at $2.05. Obviously, we are lower. But look how it's going to close today at 4pm PST on the 0.618 Fib level of $1.75. The MACD, RSI and Stochs just turned up today! We've got a nice green candle with healthy volume. Pretty cool stuff. Maybe patience it what we've been needing.
Looking forward to some comments.
Best of luck.
Not financial advice. Do your own due diligence. Have fun.
Most of us have been frustrated by Matic not going to the moon yet. Why hasn't it broken out yet, we ask. This model could explain why. I have been drawing the Fibonacci retracements/extensions for the last few weeks and I think I landed on something interesting. The sequence begins when Matic makes its' all time high on May 18th. The candle stick closed at $2.44 at 4pm PST. The bottom was put in on July 20th at $0.62. As we rebounded off the lows, the trend line was formed at a 36 degree angle. Fib levels of interest on my model are 0 - 0.62, 0.236 - 1.05, 0.382 - 1.32, 0.5 - 1.53, 0.618 - 1.75, 0.786 - 2.05 and finally 1.0 - $2.44. Notice how the price action and candles are using the Fib levels and trend line over the last few months. The trend line reaches 1.0 - $2.44 on Dec 29th. Why I am excited about this...
I also modeled the Fibonacci and Wckoff sequence for TSLA throughout this past year. The entire sequence lasted from Jan 25 until Oct 22. The bottom was set on May 19th. TSLA was trending below it's trend line until it went parabolic and caught up to it moving from the 0.786 to 1.0 Fib levels in only 5 days. On Oct 22nd TSLA broke out fiercely from $894 to $1109 in only 6 trading days. 1109 being the 1.618 Fib level. Here's an interesting fun fact. Matic topped on the day TSLA bottomed. Quite the rotation don't you think? How about a bonus prediction - TSLA tops out at it's 2.618 Fib level at $1457 on Dec 29th, the day Matic breaks out.
So what does the chart say now? The 36 degree trend line puts the price of Matic fairly valued today at $2.05. Obviously, we are lower. But look how it's going to close today at 4pm PST on the 0.618 Fib level of $1.75. The MACD, RSI and Stochs just turned up today! We've got a nice green candle with healthy volume. Pretty cool stuff. Maybe patience it what we've been needing.
Looking forward to some comments.
Best of luck.
Not financial advice. Do your own due diligence. Have fun.
Comment:
Trend still intact and looking promising for the Fibonacci box to complete on Dec 24-29. Tonights spike up to 2.19 hits that upwards trendline perfectly. Possible pullback to 1.75-1.80 still possible before end of December. So I am predicting with this chart, that the breakout starts when this box is complete. From there, we go way higher and start a new powerful uptrend. Fingers crossed. Good luck.