Our previous idea for MATICUSDT was towards the target of $1 But literally within a week the MATICUSD price made another x2 and is already trading above $2
We do not trade this instrument now, because there are a lot of unknown and manipulative components: 1) Parabolic growth has already turned into an unnatural vertical and can easily end in the widest zone of $2.35-4.20, if the manipular deem necessary, but not the market ... 2) The Matic price will fall faster than it grows, and below $1.70, the fall will receive hyper-acceleration (stops and liquidation of margin positions will help) until the MATIC price reaches $0.30-0.40 3) If there are at least some trading volumes in the MATICUSDT pair, then there are no trading volumes in the MATICBTC pair, and look on such increase on weekly candles That is, "they" do not sell MATIC to BTC yet, but when they start selling it, you have to be prepared that the price can squeeze to 700-900 sat. or even 500sat. from the current 5000 ....
In such situations, we prefer to place "buckets" for buying very low, rather than taking longs on highs. How do you trade - the choice is yours! But in the comments write what you think about the situation with MATIC _____________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
I don't think we will see a MATIC sell of. The APYs on many lending protocols is too good for people to panic sell. Talking 14% - 30% range. Plus MATIC is powering opensea L2 Beta. Just think it's too good at the moment to experience a 30%+ drawback. More likely scenario is it trades sideways for a while. Plus have you seen ZED run? Mfers buying 50K + NFT horses using matic/opensea/weth
I made 10x with matic, so I took my profits. But I had to wait till now, because the fees were very expensive. Probably some people were thinking the same than me.
P_S_trade
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@emer11111, maybe... thanks for your comment!
Afterbite
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I'm in matic since 0.11. so happy but know the top may be near thus have placed some limit sells at 3 and 2.5
P_S_trade
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@Afterbite, you have a very good entry point. How long have you been in position?
Afterbite
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@P_S_trade, feb 2021, just after rebranding was announced. in stock world is super short but in crypto a few months feels like years
Matic is pretty much getting adopted all over the crypto space right now. Thanks to Eth, speed, fees.... Its top 20 crypto right now for a reason. Look at the twitter announcement about Eth miners that can now be paid through Polygon. It screams adoption, while the price shows... But i agree, the gain is scary and no big downs yet, bound to happen eventually. Just not sure when...
Holding it since 1.5cents. Sold 1/3 of my holdings between 70c-1$.