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] Welcome to another update video about Polygon medic Um yeah continues to be in this painful Sideways range here between I would say And I take those lines out they're not Relevant anymore really Um I think we are in some kind of a Channel here sort of at the moment Between 80 yeah 87 cents and 95 cents Not too much is happening here mentioned To you yesterday could be we are already In the C wave at the moment it doesn't Really look like it anymore that would Have been the case had we Um moved up in five waves I think and I Can't remember that anymore I think I Told you it was only three waves up or At least looked like it and if we only Get three waves up it's clearly still Part of a corrective wave structure here Probably this Blue Wave B still so I Take the sub waves out because that Didn't materialize to the upside my view Is still that we are going to go lower With Matic Um that's at least at the moment my Assumption that's my primary expectation There is this short-term upside Potential but to do that the market Really needs to Rally above 95 cents Um at the moment we still have a lot of Overlaps here a very corrective price

Structure basically consolidation after This move to the upside that occurred From 76 cents all the way up to 95 so it Cools down a bit Um Typical bear Market fashion here Um but yeah my my overall view also for Everybody who's new on this channel Um is that Matic put a wave one in here That was an Impulse it was back in August we then moved down most likely in A wave a moved up in an overshooting Wave B totally ugly structure and I Think we're now coming down in a c wave ABC off wave 2. now that was most likely Put it into this yellow support box Between 47 and yeah 96 sorry 69 cents But it would most likely end in the Lower half it depends a little bit on How high we go here but yeah this Currently looks like a um a corrective Pullback here most likely in a b wave Um Other interpretations are of course Possibly here but I mean this could be a B wave or a wave 2 pullback at the Moment that's possible as well Um this could also already be in And we because this is a three wave move In itself and we could be moving down Sort of straight away problem I have With that that assuming this top is Already in the problem I have with that Is that we haven't really seen any

Impulsive move to the downside I mean if We were if we had we already started Here either well the way three or wave C Within Wave 3 then we should see some More impulsiveness to the downset now we Don't see that and because we see Movement up and down very choppy Corrective structures my assumption is That we have a good chance to Rally a Little bit higher in a b wave and the Assumption is as well that um yeah you Know because we didn't really rally Um much in this B wave didn't even touch The 50 retracement Um so yeah I mean you could say we Ideally go a little bit higher maybe to The 61.8 or even the 78.6 retracement But we won't really have a signal until We get five waves up three waves down And at least above 95 cents and is it Really worth trading because I see this mainly getting into the one Dollar one dollar five region yeah any Higher than that would of course need me To change the wave count I would then Look at something more bullish but from What I can see now the trend is still Further down quite a lot of weakness in The chart at the moment yeah it's still Sliding down it's hovering though above This blue support level that I Identified I think it was early December Made you where you can see how relevant That has been so we've touched it now

Three times but we failed to get away From it really and we did get away from It but not substantially Um the idea is obviously if you break Through this then we have one more Chance at 80 cents to find support which Is basically this swing low here Um but if we lose that then then we are Most likely going to get down into this Yellow support area so no real change to Previous videos here Um still weakness still no substance for Breakout just corrective sideways Movement Um And frustrating movement really yeah and We need to clear signal here either a Breakout above 95 could take us into the Region between one dollar one dollar Five in the C wave and move Um down can take us here first to 83 or 83 and a half then 80 and if we drop Even below 80 then we're probably coming Down to 69 and head further down here Into this yellow support area all of That would still be part of a larger Bullish case because we would put in a Low here in Wave 2 and would then rarely In a third wave And um however if we drop below 47 cents Then the entire chart will turn bearish And we will have to expect one more low Below the jewel low okay and that's my Update about automatic 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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