✴️ Polygon Update | Healthy Correction, Comparing June/July 2022

18 lug 2023

After the bullish bounce, when prices react by reversing higher after hitting a strong low, a retrace is always expected.

✔️ Corrections are long-term drops.
✔️ Retraces are short-term drops.

Ok. Let's look at Polygon in June/July 2022 and compare it to present time, you will see that this retrace is normal and healthy.

MATICUSDT:

Mid-June 2022 a low was hit, very similar to what is happening now.

This low lead to a recovery.
As soon as the initial bounce is in, we get a retrace and here it last 8 days. This is marked blue.

A little more growth and then another retrace this time 4 days long, then sustained growth. That's back in 2022.

In June/July 2023 we get the same type of action...

The bounce leads to a recovery, retrace where we are at now and this should be followed by additional growth.

Namaste.