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 The polygon Matic so polygon continues To follow the expectation here in the Last video we talked about an upcoming Wave 4 in this large C wave of Two And This is started I mentioned to you if we Break out Above This descending trend Line that's probably when this Wave 4 Will have started I think we're doing This way for at the moment and we could After that sell off in a way five so in This video I want to talk to you about The different scenarios this is the Polygon Matic chart and what I will do I Will take these lines out now they are Not very helpful anymore so they were Helpful they are not anymore also take This channel out it just makes it all a Bit Out as well don't need it And my my view on my favorite scenario Here is still that all of the move to Wonderland 5 from the June low was a Wave one and that we are now coming down In a wave 2 and the Wave 2 consists of a Wave a an overshooting wave B and the Wave C which is currently coming down And as you might know if you have an Overshooting with B you need to go below The low of the a wave so we need to get At least below 69 cents Um well we don't need to yeah nothing is A must but

Um the alternative would be that this Move down here is just a so-called Running flat pattern which is extremely Rare okay so primer expectation would be That we are following this C wave down To complete the Wave 2 into the region Between 47 and 69 cents ideally lower Than 69 and if I look at the Fibonacci Levels I did I would like to see its Target in the lower half of this box so Let's say between 47 and let's say 60 Cents yeah that would be ideal to finish Off this wave 2. Um we can Um yeah so this is one scenario where we Would now move down well first of all we Need to finish off the fourth wave At the moment I see this only as a Correction to the upside Um this is this move down is a diagonal Pattern so the Fibonacci levels are not Always hit in an ideal way but we've now Reached the 23.6 retracement which is The minimum expectation for away four we Reach that now so theoretically we could Already come down now Um a more likely Target would be the 38.2 percent FIB level 91.5 there would Be the ideal level and then the maximum You would normally expect from a wave 4 Would be the 96 Cent level the 50 Retracement and after that at the latest It should move down if it doesn't and if It pushes higher

Then we have another scenario that we Could look at and that would then most Likely be Um A direct breakout scenario so if we Break above this 50 retracement that I Just showed you and by all means scroll Back in the video just to take a look at That level but Um then I would think that we are Already in the breakout which would mean That we have probably then already seen The Wave 2 The Wave 2 is already in is It likely no and it's not likely because We have not come below the low of the a Wave and If I look at the FIB levels for this Wave tool If we turn around already now and I just Need to make it a bit more accurate but It's sort of here Now I need to go to the high But I haven't moved that high enough so It's broadly here between the Um 50 retracement at 69 cents and the 78.6 Retracement at 48 47 cents so this is Somewhere where I would ideally see this Wave to finish if we turn around already Now well then we would have only hit and That's exactly why we find support here As well we would have only hit the 38.2 Percent flip level that is of course Possible for a wave 2 but it is less

Likely the most likely scenario for a Wave 2 is here But um yeah I can't do it oh you know it Could it could break out from here but I Would only see that as a possible or Let's say a likely option if we break Above that 96 Cent level okay So that's the second option the breakout Um there is one more option Um but I don't really see that it would Be when the wave one was up here so if Wave one was up here Um but then I would see this as a wave a Down wave B up and we would come down in A c wave it wouldn't make a great Difference to be fair it wouldn't make a Great difference so let's just leave That here it's also quite unlikely due To the long sideways movement here but Yeah that's sort of my view so I think Um at least one of these key resistance Levels I just gave you we should turn Around and if we break through it you Know that we are most likely in a Breakout scenario should the breakout Occur from here and I can give you the Target as well but it wouldn't be likely But still you want to be prepared so Should the breakout already occur from Here Then we are looking at a possible Target For a third wave of around 1.95 now That's pretty decent but yeah that's my Update about polygon Matic I hope you

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