Polygon (MATICUSDT) had really good volume on the 15th of October. This is in fact the highest volume on a daily candle since May when strong bullish action was taking place.
Everything looks good here chart-wise.
Notice the black line (MA200), MATICUSDT stays safely above this level.
Its price is also trading above EMA50 and EMA10.
We have both the MACD and RSI in the bullish zone.
We have 5 months of strong consolidation. Strong because prices remaining really high compared to Dec. 2020 low and May's All-Time High.
Here is how I see it.
MATICUSDT will continue to do good as long as prices hold above the marked support ($1.03-$1.30), below these levels a strong correction can show up.
For our trading, this is a pair that I would never buy but why?
MATICUSDT remains trading near its resistance all-time high.
The ones we look for are the ones that are trading near support.
Look at Nov. and/or Dec. 2020... This is where we buy before the massive bullish action shows up.
After the strong bullish action is there, yes room remains for additional growth, but the risk is so much higher...
We prefer lower potential risk. Higher potential for growth.
I love Polygon, Bitcoin, and all Cryptos/Altcoins but we trade low risk and high potential rewards.
We buy near the lows with a tight stop-loss. If the trade goes wrong... Nothing really, just a small loss. If the pair gets off, we enjoy massive gains, huge price increase, incredible results.
I will later share/analyze my own choices, you will see the difference in the chart structure. For beginners, these charts will look bad because prices are not going up... But that's the point, buying BEFORE the bullish action happens so that we can enjoy maximum benefits on the way up.
Agreed, buy when no one gives a shit and be patient.
aslancrypto110
⋅
matic ATH is really its long term support, i think we will never see matic in these prices ( after a few weeks) , never ever.
Dur0
⋅
Hello Master, Any update about this pair? Thanks You!
AliRizvi
⋅
good stocks and crypto remain more days in all time high then in all time low. if you posted something about the project or fundamentals then i had understand.
Bluechipinvestments
⋅
Great Strategy, I look for the same as I continue my journey of learning. Two big helpers I have found to catch those, are Bearish Divergences and Finding a Diamond Bottom. Great Entry, need to work on my SL.