Matic All Time Wave Count - Update 17/06/2022
Looking at the all time history of MATIC, it can be seen that a long term Impulsive Wave Cycle to the upside has occurred; after completing a Minor Wave 5 to complete the Wave III Cycle Matic has experienced a very deep correction which it can be assumed that MATIC is correcting long term price gains as is most of the Cryptocurrency Market; it appears that the current correction is heading towards its finality with many key levels which could many buyers back into the market. After experiencing a 87% decline from ATH after completing the current WXY correction we can expect some significant price gains to occur following which offers a unique investment oppurtunity.
Lets dive into the areas in which could be of strong importance and a potential reversal:
~ we currently sit near a region of high support in which we spent time in the minuscule wave 4 ranging from $0.262 - $0.544; wave four of two lesser degrees
~ notably of the WXY correction; if we use Fibonacci Extensions the linear ~0.618 extension lies at $0.308 and the ~0.786 extension lies at $0.257 which has strong confluence with support at those levels
~ the 0.382 log fib retracement which is the most common Wave 4 Retracement also lies at $0.282 which is a possible CYCLE WAVE 4 destination and where many buyers could step in
This not financial advice!
Please like and follow for more Advanced Elliot Wave Analysis!!
Lets dive into the areas in which could be of strong importance and a potential reversal:
~ we currently sit near a region of high support in which we spent time in the minuscule wave 4 ranging from $0.262 - $0.544; wave four of two lesser degrees
~ notably of the WXY correction; if we use Fibonacci Extensions the linear ~0.618 extension lies at $0.308 and the ~0.786 extension lies at $0.257 which has strong confluence with support at those levels
~ the 0.382 log fib retracement which is the most common Wave 4 Retracement also lies at $0.282 which is a possible CYCLE WAVE 4 destination and where many buyers could step in
This not financial advice!
Please like and follow for more Advanced Elliot Wave Analysis!!