✴️ Polygon Bullish Bias & A Strange Feeling

7 ago 2023

We can see a Cup & Handle pattern on this chart:

Notice how extremely low is the volume as the retrace takes place. Not a drop or correction, a retrace as it has no volume.

If we focus on the retrace only we have a perfect falling wedge already going towards the green side:

Notice three reactions on the upper trendline so this is a nicely drawn pattern.

These patterns just to support my bullish bias. Polygon (MATICUSDT)

Focusing again on the retrace, MATICUSDT moved below 0.618 Fib. retracement but is bouncing before hitting 0.786 Fib., the last three days green. This can also be read as a bullish signal.

Still early, because it can continue lower and test the 0.786 Fib. retracement level before going up but we look at the market as a whole. Seeing those Altcoins doing 50%, 70% and some even 100% in a single day tells me that things want to move forward and so the reversal candles showing above 0.786 Fib. might be early signals that the retrace is over, that's my view and all this babbling is meant to support it.

These signals for me are enough.

We have multiple bullish patterns and just this feeling that something positive in the background is going on.

What is it?
What is this feeling that continues to bother me?

Maybe it is the fact that everything is about to grow... I sure hope so.

Thanks a lot for your support.

Namaste.