MATIC - Will Lose 90% Right Here
MATIC has been one of the strongest in recovery following Bitcoin's crash returning to 0.886 retracement near ATH. But this strength surely comes from optimism that the BTC bull is not done. MATIC reacted to BTC 30K crash losing 72%, but when Bitcoin shows its hand shortly and continues the crash towards 20K, its not difficult to see what will happen.
A 90% loss would take price down to the 0.382 logarithmic retracement area where there is support. Price should easily find this area down the road.
But also to consider an eventual bottom, if you are following my ideas you'll have noticed that alts have been reversing around the 0.786 - 0.886 area. So lets just say - worst case scenario (or best; depending on your perspective) MATIC retraces 0.886 of the entire run as it has done in this recent upward retracement. How much loss is that and what price would it be?
99.5% - $0.0127
I'm short MATIC. See related idea for details
A 90% loss would take price down to the 0.382 logarithmic retracement area where there is support. Price should easily find this area down the road.
But also to consider an eventual bottom, if you are following my ideas you'll have noticed that alts have been reversing around the 0.786 - 0.886 area. So lets just say - worst case scenario (or best; depending on your perspective) MATIC retraces 0.886 of the entire run as it has done in this recent upward retracement. How much loss is that and what price would it be?
99.5% - $0.0127
I'm short MATIC. See related idea for details
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I have many great deep value opportunities ❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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