I do believe we are headed for a 50 - 60% recovery then we should see a small pull back and then I believe we will start to form a fall wedge then a breakout towards the recent (ATH) and pretty much into a new uptrend and back into the bullrun. This is not financial advice only my opinion using strategies and tools that I know in order to produce a analysis of my own. If you are new to crypto I recommend DYOR , Learn TA & NEVER TRADE LEVERAGE!
If you like my TA, Drop a like / Follow I appreciate the support.
Hello Cryptonerd!
I agree mostly, but I get the impression that matic will pull out above the ATH rather than form the wedge before.
I'd love to hear more of your thought process.
Can you explain more of your reasoning behind why you thought it would stop at the .5 fib, retrace to .236 and so on? Always interested in the finer details of the thought process!
Thank you! Talk soon. :D
PacMan1337
⋅
@EffOfX, I appreciate you're interest in my TA I thank you for you're opinion I suppose we will have to wait and see how things play out but I am still going to stick to my analysis unless we see something happen in the news I feel it should play out like I showed. Please continue to check back for reference and follow me if you haven't already for future analysis!
Erialos
⋅
@CryptoN3RD420, I am happy to see that Matic hasn't dropped 2 fib levels...yet. :D
Thanks for your reply, would have enjoyed reading more into your thought process textually though. :D Always here to learn, discuss, and network with other like minded individuals!
Enjoy your day! Oh and I am following too! :D
PacMan1337
⋅
@EffOfX, ill gladly chat with you more later on today I am at work. I do appreciate you're interest though!
cr9b5mgghb
⋅
Thanks
gameday01
⋅
any chance for a double bottom?
PacMan1337
⋅
@gameday01, It really all depends on bitcoins behavior. I believe BTC should start pushing back up now that it had a 50% pull back from its recent (ATH). So at this time no I don't see a double bottom coming. I think there might be a short pull back after we hit the 61.8 resistance level and then a falling wedge / consolidation period and then a breakout to the upside and back into the larger bull market trend. But don't quote me on my opinion if it doesn't do it exactly to the T.