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 [Music] Video about polygon medic so the market Gives us a clear signal here and you can See how relevant sometimes those trend Lines are because there is obviously Still at the moment the short-term Upside potential in a Blue Wave c Um which we talked about in in the Previous video and for everybody who's New here on the channel Um the idea is that we are in a in a Downtrend yeah still in an in a Correction because the movement to the Upside at the moment is only of Corrective nature it does not look Impulsive we had only three ways to the Upside here Um and it is not impulsive price action Yeah it does it just doesn't show enough Let's say bullish Behavior to assume That we have already bottomed here in This Wave 2 which is done here currently Located yeah therefore my primary Expectation is That we're heading down here in a Five-way structure in a c wave of two And the C wave is a ending an ending Diagonal a wave one a wave two A wave three four five and each of these Sub waves consists of three waves and Therefore a b c and We talked about it in the previous video That this B wave could technically

Already be finished but it would be very Very shallow and therefore as long as We're staying above the 83 Cent level And to be honest it's rather the 80 cent Level not 83 but 83 below that level a Move down a direct move down will get More likely Um but we can consider the higher B wave Possible and we can consider that the Primary wave count actually as long as We're holding the 80 cent level Why is that because the 80 cent level is The 78.6 retracement it would be already A lower than ideal retracement for such A b wave But It's possible so we can still maintain The blue count here ABC as long as we're Holding above 80 cents and it seems like We might get a deeper wave B Before we move up and see yeah and the Reason is the rather strong move down Here in this engulfing red candle that We just see you can obviously see as Well that we failed to break above the Descending trend line and if I'm not Mistaken I mentioned in the previous Video as soon as we break above this Trend line we can consider the C wave Going yeah ongoing or at least it would Be the first signal but the market Obviously decided to go down which means We most likely get here a deeper wave B Pullback which is not a problem because

The B wave Target the ideal Target area Goes down all the way to 83 cents or Let's say 83 and a half and we could Still come down to 80 cents if the Market chooses it and how is this with B Subdividing well again we're doing micro Counting here so the reliability of this Is limited but I would consider this an A wave a b wave and now a c wave and it Could very well be that we've done here A wave one here wave two this might be a Three a four and a five down into this Area and um to get some rough and a Rough idea about a target for the C wave We can take the length of the a wave go Higher to the B wave high and yeah it Would take us to the ideal Target would Be the one to one ratio that would be Here at 85 and a half cents so let's see If we actually uh get there Um this has become now likely due to the Break of the Um ascending trend line here I am Obviously it's a four hour candle the Four-hour candle or the four hour is not Closed yet but you can see we already Closed and now a one hour candle below This level so it's currently looking Like we are in this third wave down I Mean I can put the sub waves onto the Chart but please treat them as quite Fragile Um Three four

Five into the 85 Cent area that's how I Can imagine this could ideally play out In an Ideal World and then we find with Deeper wave B support here and ideally We stay above 83 and a half cents maybe Above 80 and as long as that's the case We can move higher in a c wave yeah Um Target here is around the one dollar To 1.5 mark If we drop below 80 cents then we have a Direct sell-off scenario and follow the Primary Trend down without Realizing short-term upside potential Yeah okay and that's my update about Polygonomatic 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]

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