⚡️🌩️ "Matic Coin Analysis: Navigating the Storm "💀💰
🕵️♂️ Let's delve into the analysis of the Matic coin for future trades, considering the likelihood of ranging and discomfort in trading for this week.
🕰️ In the weekly timeframe, after hitting the box ceiling and resistance at 1.2745, red candles emerged, indicating the presence of sellers in the market, leading to a 50% price drop. This event has occurred for most coins.
📊 In general, after the market correction and drop, coins can be divided into two categories for position-taking. The first category includes coins that either did not experience heavy drops or quickly recovered after a drop, regaining most of their losses. The second category includes coins that, after the drop, started ranging and oscillating in smaller boxes. The coin we are analyzing today belongs to the second category.
💹 In the four-hour timeframe, after losing support at 0.8677, we moved towards support at 0.6465, and we are currently oscillating between 0.6465 and 0.7470.
💰 For a long position, we can enter early and riskily, mainly because we could be in the accumulation range and initiate an upward trend after breaking the resistance. We will open our long position with low risk after 0.7470 and quickly secure profits and close our position.
🌟 For a short position, we are currently following the trend. We can open a short position in two scenarios:
📉 The first scenario is if we reach the line at 0.6920 and show a reaction. If this line breaks, we can open positions on lower timeframes. If 0.6465 is sharply broken without a position, we can consider entering a position, but if we show a reaction and support at 0.6465, there is a chance of a stop-loss.
🎯 The second scenario is to wait for the formation of the bottom box line at 0.6465. If this line breaks, accompanied by volume, we can logically open our short position and follow the trend.
🔍 Additionally, we have an educational point about how to identify a Fake Breakout, as indicated on the chart. If we go to higher timeframes and see shadows instead of candle shadows, as is the case in the daily timeframe, we consider this a fake breakout in the lower timeframe.
🛡️ The upcoming support levels are 0.6465, 0.5714, and 0.5018, while the resistance levels are 0.8677, 0.9515, and 1.1137 on this chart.
🛒 For buying Matic, be patient for now. If we have an entry point, I will definitely share it within this channel for you.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🕰️ In the weekly timeframe, after hitting the box ceiling and resistance at 1.2745, red candles emerged, indicating the presence of sellers in the market, leading to a 50% price drop. This event has occurred for most coins.
📊 In general, after the market correction and drop, coins can be divided into two categories for position-taking. The first category includes coins that either did not experience heavy drops or quickly recovered after a drop, regaining most of their losses. The second category includes coins that, after the drop, started ranging and oscillating in smaller boxes. The coin we are analyzing today belongs to the second category.
💹 In the four-hour timeframe, after losing support at 0.8677, we moved towards support at 0.6465, and we are currently oscillating between 0.6465 and 0.7470.
💰 For a long position, we can enter early and riskily, mainly because we could be in the accumulation range and initiate an upward trend after breaking the resistance. We will open our long position with low risk after 0.7470 and quickly secure profits and close our position.
🌟 For a short position, we are currently following the trend. We can open a short position in two scenarios:
📉 The first scenario is if we reach the line at 0.6920 and show a reaction. If this line breaks, we can open positions on lower timeframes. If 0.6465 is sharply broken without a position, we can consider entering a position, but if we show a reaction and support at 0.6465, there is a chance of a stop-loss.
🎯 The second scenario is to wait for the formation of the bottom box line at 0.6465. If this line breaks, accompanied by volume, we can logically open our short position and follow the trend.
🔍 Additionally, we have an educational point about how to identify a Fake Breakout, as indicated on the chart. If we go to higher timeframes and see shadows instead of candle shadows, as is the case in the daily timeframe, we consider this a fake breakout in the lower timeframe.
🛡️ The upcoming support levels are 0.6465, 0.5714, and 0.5018, while the resistance levels are 0.8677, 0.9515, and 1.1137 on this chart.
🛒 For buying Matic, be patient for now. If we have an entry point, I will definitely share it within this channel for you.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.