As I dive once again into the analytics for the MATIC coin, I bring forth my personal expectations, which for some, may border on the fantastical.
Past Success and Future Plans
Many of you participated in the initial position starting January 17, achieving a spectacular performance with a long-term perspective. We successfully closed all three takes with a profit exceeding 1400% ROE plus a 50% net on the spot position. The strategic moves were documented in detail, providing a clear before and after snapshot of our actions, including a recent review of the current state and future outlook as befits a comprehensive analysis.
What’s Next? Considering numerous factors, I’m currently cautious about entering new market positions. As I’ve mentioned before, while Bitcoin is expected to rise slightly more, a subsequent market correction is anticipated. It’s crucial to be prepared for this correction, during which I plan to acquire both this asset and others. Currently, I’m not interested in pursuing long positions, even with the potential for a minor percentage increase.
Technical Insights:
- The price has hit resistance at the FIBO 0.618 level, aligning with the Order Block on the 1D TF.
- It’s moving within a five-wave Elliott structure, showing signs of a potential reversal in wave three, either from current levels or the liquidation zone of retail traders’ stop orders.
- Significant transactions are being partially settled, with coins moving to both OTC and regular exchanges.
- The cluster divergence index is indicating a move towards correction.
Target Acquisition Levels:
- $1.0337 – aligning with a previously significant FIBO 0.5 level and a structural liquidity point across candle intersections.
- $0.8814 – corresponding to a previously important CHoCH level, the mirror zone of the Market Maker’s magnet from the Range.
I will detail the trading strategy at the moment of entry, including targeted takes. Trade carefully and manage your risks wisely.