No matter what, for now, alt coin action is dependant on the size of bitcoins pumps and dumps, for now. It has not found its bottom and so neither has the crypto market. However, a few coins have lifecycles of their own, more or less, and MATIC is one of them.
Looking at the 1d timeframe chart the RSI made a nice bottom “V” @nikonorovsv on 22Jan. This is a level it has not been at since last July. The divergence I’ve highlighted with the yellow trend line in the RSI section, confirms a trend change UP. The MacD seems to agree with an uptrend arcing up to possibly create a “BD” today.
Granted the 1w and 1m timeframes are showing a continued downtrend I believe the V in the 1d timeframe is decisive.
The PA is sitting right on the 200ma while being well below the 50ma with the 20ma diving down to meet it. Volume is in the green for the last few days but unfortunately decreasing a bit. This is not a bad thing at this point but I’d like to see volume pick up some eh.
So, PA descended quickly from $2.30ish down to the range market of $1.63-1.50 area where it bounced around a bit. Kinda surprisingly, it bounced up out of the range market which iOS pretty close to the 0.236 FIB ext level. If the PA continues up past the 0.382 range it will also have to break through the blue downslope trend line. That should be confirmation we have an uptrend.
Of course bitcoin could drop a chunk and negate this action.
My thoughts, not advice Oklah. Cheers
Looking at the 1d timeframe chart the RSI made a nice bottom “V” @nikonorovsv on 22Jan. This is a level it has not been at since last July. The divergence I’ve highlighted with the yellow trend line in the RSI section, confirms a trend change UP. The MacD seems to agree with an uptrend arcing up to possibly create a “BD” today.
Granted the 1w and 1m timeframes are showing a continued downtrend I believe the V in the 1d timeframe is decisive.
The PA is sitting right on the 200ma while being well below the 50ma with the 20ma diving down to meet it. Volume is in the green for the last few days but unfortunately decreasing a bit. This is not a bad thing at this point but I’d like to see volume pick up some eh.
So, PA descended quickly from $2.30ish down to the range market of $1.63-1.50 area where it bounced around a bit. Kinda surprisingly, it bounced up out of the range market which iOS pretty close to the 0.236 FIB ext level. If the PA continues up past the 0.382 range it will also have to break through the blue downslope trend line. That should be confirmation we have an uptrend.
Of course bitcoin could drop a chunk and negate this action.
My thoughts, not advice Oklah. Cheers
