Foreign [Music] Welcome to another update video about Matic polygonomatic interesting Development on the chart only yesterday We talked about Um the fact that it had hit Fibonacci Support here that could allow it to move A little bit higher before coming down So we've got here now the in blue that Is so let's say the short term Buddhist Count ABC we hit the support area only Yesterday That was the let me just see that was The 38.2 percent FIB level it's an ideal Target for a b wave Um we hit that support and today we Already leaving it we're moving up and We've moved from around 87 cents to 92. It's quite decent for a day Um but we're approaching key resistance Now Um so as you can see here we've got Basically a touch point three three Touch points here now and if we break Above the current high at 93 cents I Think then it can take us to one dollar Maybe one dollar five or let's actually Measure that because if this is an a Wave this is a b wave well it actually Could take us to one dollar and six yeah So the very first Target for a c wave You don't see that very often but it's Possible it's the 61.8 extension that
Only would take it to 99 Cents the one To one ratio is 1.6 the 1.618 extension Is 1.18 but that is actually a little Bit too much I think in this context Because then we need to look at the Retracements as well then we need to Review the higher level assumption But yeah um I think it's looking good For this larger IBC pattern but we need To break and that's the next Target for The Bulls we need to break that 93 level Then much more upside would be possible What kind of wave pattern is this Embedded in well it doesn't really Change anything yeah we talked about Um short-term upset potential yes from Here but as long as it's only looking Corrective which it does here at the Moment lots of overlaps I think it's part of this further Um Sort of short-term sell of account that I've got here on the chart Where I've got the wave Um where I've got a five wave decline Yeah so we're looking at this structure As a five wave move down one Two Three four five so a bit ugly but as an Ending diagonal in a c wave of two So this c-wave is a five wave move the Question is only how do these Subdivisions Um work yeah how do they how do they
Work Um And we've got here if it's an ending Diagonal we can consider each of these Sub waves as a three-way structure so I've got the Wave 3 as an ABC as well I did have on the chart the white count A b c which is still possible but less Likely than the blue count in the blue Count we've got an extended B wave so This ABC in blue is actually part of the Larger B wave So we could say a B c yeah [Music] Um The reason is that this move down looked Very corrective So had the B wave in white topped here Already We would need to see actually an Impulsive move down so what I'm going to Do now I'm actually going to move this B Wave up here which means it's more Likely now that we move up in an Extended wave B given the corrective Move down yeah and the reaction to the Fibonacci support area should we drop Below it was 80 cents here yeah then I Think we're going to come down straight Away but until then my assumption will Be we could see first of all the one Dollar level and then 1.6 And all of that is embedded in a larger
Bullish scenario where we've got a wave One to the upside a wave two down and Would probably from this support box Here from this larger support box Between 47 and 69 cents Um move up in a wave three and again There is nothing bearish on this child Until we drop below 47 cents and if we Really come down into this yellow Support box for the Wave 2 in yellow it Is most likely going to be the lower Half I would say yeah sort of Between 47 and 60 cents And yeah that's my update about Matic I Hope you like the update 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]