Foreign [Music] Welcome to another update video about Polygon Matic the chart or the coin That's just literally not moving at all Um I mean if you look at the current price Range we've basically been in this range Since August yeah between 69 cents and 95 yeah in this range with the exception Of this hugely volatile move but besides That we're basically where we were Already on the um Yeah first of September right in that in That price region So however Where are we now where are we now and we Want to take a look at the different Options again even though not too much Has changed since the last video but my View remains that There is a good chance to break down Lower still the problem is and I did Explain that in previous videos we're Basically sitting here on the fence Between two scenarios there is the Bullish direct breakout scenario that is The Blue Wave count here and then we've Got the white count going down into the Region here between 47 and 69 cents but if we really follow The direct sell of count I would rather Look at the lower half of the clo Target Box
So key scenario here still the wave one Um was already done It means that with a high likelihood We're not going to see the June low Again And we then created an A B One second I just need to think Um Yeah C and we are currently in this C Wave and that is exactly what would take Us into the lower half of this target Box There is nothing bearish on this chart Until we drop below 47 cents and if we Then zoom in we can see that within this Wave C to the downside we have an ending Diagonal wave one done wave two done Wave three currently unfolding way Forward to do and wave 5 to do as well And in this Wave 3 we've currently got An a wave done we are currently in the B Wave that can still stretch to a dollar No problem as a b wave and then come Down in a c wave This is still I would say a very likely count yeah and Very likely due to the lack of impulsive Price action to the upside at the moment On the other hand we've got the other Count where we say yeah we moved up in a Wave one We just so yeah we moved up in a wave One And then we came down in a wave two and
Then we've got another One two setup oh a bit ugly sorry and Um one two and here another one two And Then we would break out now yeah it's Not a preferred count Not really because The strong retracements here they make This count quite unlikely yeah whenever You get like a 99 retracement that is Normally not very very reliable And to be fair we are currently holding Quite well the support up here so we Should not rule out the Blue Wave count In fact I would say we could even focus On it as long as we're holding above the Wave one high which is around 89 cents So as long as we are all above 89 cents This can move higher a sign that this is Going to drop and fail You will get that signal when we drop Below 89 cents okay so the Blue Wave Count would suggest we in a breakout Pattern wave one done wave two done Here whatever this is this could be a Whatever wave four or something so Basically a one two three four within Wave three and then there should be one More leg up Um this is really micro counting doesn't Really make too much sense to do this But a wave one two and then we should Move up in a way three now there will be Away four and away five this wave three
Should take us to at least one dollar Um so as long as we're not there we we Can't really focus on it too much yeah That would be another layer of Confirmation However the fact that we are Consolidating here in the way that we do Could be considered rather bullish Actually Um so just reading the price action in Whatever you could call maybe a bull Flag yeah Um Which would ideally break to the upside And then we've got five waves you know And in a way three and you've got your Wave one you've got your wave two we've Got to wave three then we are waiting For a wave four and the way five and as Soon as we have five waves up then we Wait for the ABC down that could be Another long entry position and then off We go yeah so it's not looking too bad But also no very clear signals here Sitting directly between two scenarios And we just need a bit of patience here I think maybe the next few days we know A little bit more Um but my concern is that the remaining Few weeks that we have in 2022 will be Quite boring yeah we obviously have the Fomc meeting rate decision and PCI CPI Data next week that is I think Um
But besides that there isn't much more And I remember last year and typically What you see towards the year end is a Bit of boring sideways movement yeah so Let's see I hope 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 [Music] Thank you