Polygon (MATICUSD): On the way up! 📈

Polygon (MATICUSD): MATICUSD

Since our entry into Polygon, also known as MATICUSD, we've seen a 35% increase, and we're optimistic that we've successfully concluded Wave 2 and are currently in Wave 3 in red. Since then, we've adjusted our stop-loss, secured profits, and set the stop-loss at our entry price. We're going to let the price run and see how it unfolds. We don't anticipate a downturn in the coming weeks; rather, we see the potential for a significant upward breakout before any correction occurs—where and when it will happen remains to be seen.

We believe that we should at least reach $2.50 in the overarching blue Wave (3), that you can see on the daily chart.

For the subordinate Wave 3 in red, where we made our entry, the target is considerably lower, but we plan to hold for longer since we don't expect to return to this price level in the near future, assuming we witness a significant upward breakout. This outlook is reinforced on the daily chart by the red Wave 3 we're discussing, which is part of the blue Wave (3) that should range between $2 and $4. $2.50 is an especially interesting level for us to reach. It's a long journey from our Wave (2) bottom at approximately 50 cents, a level we don't foresee revisiting.

Comment:

Polygon (MATICUSD): MATICUSD

The entire cryptocurrency market is currently experiencing a parabolic upward trend. This includes MATIC, which continues to see upward momentum. It seems that Bitcoin is driving this trend, and we anticipate that at some point, Bitcoin's strength will need to stabilize in terms of dominance, allowing altcoins to perform. It's not entirely clear when this will occur. Currently, we are 47% in profit since our entry into Matic, moving towards the level of $1.08, which is our Wave (b). Surpassing this will bring us to our first significant challenge, the red zone, on a broader scale. However, we are in the midst of Wave 3 in red, which has a substantial upside potential. We expect that Polygon has a lot of space to grow, with a minimum target of $2.50. This would represent a 240% increase from our entry price.

Comment:

Polygon #MATICUSD: Trade Update Long-Term

Finally it is time for us to take out the first 25% here and we move our stop loss to break even here.
With Matic, we've seen an impressive 51% gain since our entry, which we are extremely pleased with. We are confident that we have already completed Wave 2 and are currently in the overarching Wave (3). We believe we are about to form a subordinate Wave ((ii)) soon, experiencing a pullback. It's expected that this Wave 2 should reach a retracement between 50 and 78%. Currently, for Wave (v), we are at a crucial level, the 61.8% level, which we have reached but not yet surpassed. If we move beyond this level, we will naturally adjust our analysis and notify you accordingly.

We won't place a limit order just yet, but will wait until we observe the first signs of weakness in the market and with Matic, to then place a limit order. For the first entry, we do not plan to make any changes, as we expect this Wave 2 to dip further. Therefore, it does not make sense to adjust our stop-loss significantly at this time, we just move it to break even.

Comment:

Polygon #MATICUSD

Sometimes, trading can really make you want to kick yourself in the ass, but it's all part of the process. We're still in this for the long haul and see no reason to be upset. In any case, we had expected to form Wave ((i)), and we had indeed formed it, but then within a few hours, we dropped down to the 50 percent level. We hadn't placed an entry here, so we weren't filled. But no problem, we're still in for the long term. However, we believe that we haven't actually concluded this Wave ((ii)) with just this short dip, but that we would need to come down again to effectively complete Wave ((ii)). If this is not the case and that really was Wave ((ii)), we obviously expect a significant increase further back up, which is very good for our long-term position. ✅

Comment:

For Matic, it is now assumed that we have developed the first Wave (a) around our 50% level at just under 90 cents. Now, we're working on developing Wave (b), which is currently at the 138% level and at the end of our resistance zone. This zone has been significant in several instances, holding up so far, and indications suggest it continues to hold. If we surpass this 138% level, it would imply that our limit order, or rather Wave ((ii)), has been reached, concluding this phase and entering Wave ((iii)). If this doesn't happen, we continue to expect a sell-off down to the 50% level, and at most to the 78.6% level.