RTrader20

Massive short squeeze to ATH

Long
FTX:MATICUSD   Matic / USD
Looking for MATIC to start a massive short squeeze as Bitcoin rebounds. Momentum stocks are basing nicely with some already breaking out, and crypto has largely traded in-line with momentum stocks as a risk-on trade. Most importantly, the Fed is still accommodative.

MATIC made a huge run prior to the correction and is one of the top performers YTD. Only big money can affect the price this much, so it's fair to say it's perceived by the market as the top Ethereum scaling solution and one of the best projects in the crypto space today. MATIC leads the infrastructure and scaling sector from a growth standpoint (revs, notable DeFi and NFT projects, and general adoptions metrics) and this is where institutions will be pouring their money into, according to Andreessen Horowitz' new crypto fund manager: https://www.nytimes.com/2021/06/26/busin...
Comment: Looking great so far. Let's see if it can breakout over $1.25 resistance and the 100/50 day (short squeezes typically have a parabolic up move, which could propel the coin through resistance). If so, would expect a retest, but that would be a huge win for the bulls as it gives the green light to big buyers to come back in. MATIC would be one of very few coins over all moving averages...

Comments