Bounce off Volume Shelf Support

MATIC coming down right into the POC + volume shelf after a ~88% 5 wave selloff. At the very least, I think we have a large bear market rally, but this could end up being the ultimate bottom and. generational buying opportunity.

This huge selloff really was a result of Fed tightening to subdue inflation. The economy is starting to feel the affects of a hurt consumer simply due to the reverse wealth effect (markets went way down so people spend less)

I'm seeing topping patterns across crude oil / commodities, 10 yr treasury rate and the US dollar. If inflation has peaked, the Fed can chill and risk assets can bottom.

Polygon is my high conviction play in crypto given fundamentals, investors and overall ease of understanding (scale Ethereum via lower fees, fast transaction speeds makes complete sense). Big money will flow towards the quality projects.

Comment:

Big bounce 50%+ off the volume shelf on increasing and above average volume. May see an "inside day" or two as temporary rest days near $0.60, but ultimately, the momentum could carry this to next volume shelf near $0.75.

MATIC appears to be leading the recovery, which bodes well for MATIC as one of the significant outperformers over the coming months if crypto has bottomed out.