Polygon MATIC Price News Today – Elliott Wave Technical Analysis Update, This is Happening Now!

Polygon MATIC Price News Today - Elliott Wave Technical Analysis Update, This is Happening Now!

Foreign Welcome to another update video about Polygon medic sounds like or seems like We're getting here some clarity Um must say Bitcoin has really dropped Below key support but Matic has Yesterday we talked about the 83 was it 83 and a half cent level that ideally we Have to stay above which we didn't so I'm looking now at With a higher likelihood at a deeper Wave 2 of course it's still possible to Rally from here but likelihoods are Shifting towards a deeper decline in a Wave two so that this yellow Wave 2 Which we've always had as alternative Pattern in here again but the primary Was that it was finished here And that we were already getting into a More sustainable uptrend here Um yeah this has become now the primary Because this messy price action here Didn't look good anymore and we've now Dropped actually a little bit too much Not two degree of invalidation but Nearly and that just shifts the Likelihoods to the downside of course This could still be and I don't want to Tell you it's not possible but this Could still be So called one two pattern but we would Really need to Rally now in a way three Four five so that would be the bullish Case but then you would want it to break

That trend line and you would want a Five wave move up which I can't see at The moment so at the moment likelihood Is Shifting to the downside there's two Again as always there's two main Possibilities Um the first one is this one That we Had a peek up here in a wave B and we're Now coming down in Um on seconds And I would move the wave B here We had our wave one down Two up and we're now in the three like a Diagonal pattern four and five I don't Find that too likely and not it doesn't Really look like Um a great A great pattern in terms of proportions Therefore what I'm going to do most Likely but I would have to change here The wave count a bit Um it is the idea that actually the wave 1 peaked up here that there was a peak Of the wave one and That we are coming down in One second let me to look at this Yeah okay one two Three four five the problem I have with The other car that the wave B is up here It's just a massively overshooting wave B it's possible it doesn't really make a Difference in the short term But we could say that the entire wave

One was actually up here Um but I'll play around a little bit With it I probably will know more in the Next video but it's all about Um I think that this wave one low will Get broken that is at 76 cents if we Break it we have some clarity then the Target would be 70 cents well not the Target but the next support and then We're looking further down into the Support box Um and as long as we are above 47 cents There is nothing bearish on this chart And this could head you know this could Come down lower now possibly you know in Some kind of a diagonal pattern here Um And I would what I did forget is this ABC so a One second a No it's different one second one ABC Still early still early in the morning So it would be Yeah ABC and then we had actually the Wave one Bottoming here at around 80 83 cents Then here a wave two and we're now in The three There'll be a four And a five that looks better looks way Better and I can give you a target for The third wave as well One And then the target would be over the

First Target would be around 65 cents For the wave three I would assume that We're doing something like an ending Diagonal here in the wave two because Otherwise we're going to come down in The way 3 to 44 cents that would be Quite a strong sell-off I can't see that At the moment Um and we don't necessarily need to Reach that 1.618 extension so as a first Target I'd be looking here at the Wave 3 At 64 cents let's see if we get there Let's see if we find support there And then this would be away four and Away 5 of C of two and as long as we Stay in the yellow support box there is Nothing bearish on this chart I let this Play out a little bit get some more Clarity To look for a new entry point a new long Position Um but at the moment I think we are sort Of dropping we drop below key support There is no sign of a reversal could Happen at any time we know the crypto Space but then even if we get a signal To the upside we can still buy the Retracement so I'm waiting here a bit And yeah hopefully you like the update About medic If you did please hit the like button Leave a comment and subscribe and if you Really like the content then please Check out the channel membership thanks

A lot for watching bye

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