Matic vol will decide the macro (short term Jun/Jul) direction
Looking at the daily its clear that volume is depressed vs. the May run. There will be another spike in volume at some point in the next few weeks maybe 6 weeks... There's lots of news to help "tell the story" but we know the technicals have a direction in mind. Insiders already know if there is a delay in alpha/beta, or some big news to move the market. Question is, are we distributing price now or in another accumulation zone.
Bearish levels would be strong volume break of .023 area or .382 vs candle bodies or .618 of wicks depending on how you do the fibs. In that case I'm stopped out with profits but then looking for a juicier entry in the low volume node areas or the .618 of candle closes (open to high) or 786 of wicks.
Relative targets are a double top test of around .04 or a push higher into the .06 range. This coin has similar hype that other low sat coins had during bullish periods like (for example) tron which ran from .002 to 6 cents then 4 weeks later 28 cents plus but this coin has lower supply, already working tech, and fundamentals that provide similar hype to marketing hype tweets in a euphoric bull rally top.
Again, manage risk. Buy cheap near supports and strong moving average supports and protect your capital. Then it is much easier to let things ride. The 200 MA on the hourly is a key as well as some of the 4 hr emas. Play around with it and have a strategy that first manages risk. This game is more about not losing vs. how much you make in a single trade. If you focus on not losing money, you can get in really good entries and end up in "let it ride" situations that are less stressful. That said, I wouldn't buy here if you're aren't in already. Rather, look for break of resistance or buy at a key support with low risk stops. And watch the volume, it is key.
Bearish levels would be strong volume break of .023 area or .382 vs candle bodies or .618 of wicks depending on how you do the fibs. In that case I'm stopped out with profits but then looking for a juicier entry in the low volume node areas or the .618 of candle closes (open to high) or 786 of wicks.
Relative targets are a double top test of around .04 or a push higher into the .06 range. This coin has similar hype that other low sat coins had during bullish periods like (for example) tron which ran from .002 to 6 cents then 4 weeks later 28 cents plus but this coin has lower supply, already working tech, and fundamentals that provide similar hype to marketing hype tweets in a euphoric bull rally top.
Again, manage risk. Buy cheap near supports and strong moving average supports and protect your capital. Then it is much easier to let things ride. The 200 MA on the hourly is a key as well as some of the 4 hr emas. Play around with it and have a strategy that first manages risk. This game is more about not losing vs. how much you make in a single trade. If you focus on not losing money, you can get in really good entries and end up in "let it ride" situations that are less stressful. That said, I wouldn't buy here if you're aren't in already. Rather, look for break of resistance or buy at a key support with low risk stops. And watch the volume, it is key.
