Well if you remember from about a week or so ago, I called this MATIC/USD breakout of the falling wedge… Well that was just before the market took a massive dump and it fell back into the wedge. Well the same thing happened with BTC, but MATIC has absolutely exploded! More than a recovery, a sheer blast past expected target ranges!
Currently sitting at $2.51 at time of this post, the momentum indicators are looking a bit overheated, so at this point, we are taking a bit of profits off the table.
Looking at putting some of those into BLOK because it has taken a big dip since I bought in at .12, so I am going to scoop up some more with the MATC pump and the BLOK price action sitting at .08…
Why am I going into BLOK, well they have the potential of being a major competitor in the metaverse space, so I want to have a small piece. I would like to be able to buy a small piece of land in the Blocktopia, or at least get in on some rental action or something, but we will see.
The momentum drop in BLOK looks to be slowing up and we may be getting a green dot on market cipher in a couple of days if this trend starts to turn. I am waiting just a bit to see if there is going to be any more downside for BLOK and more upside for MATIC, but I may have to dig into the lower time frames to the 4hr to see if it’s ready to roll or not. I make most of my moves on the daily candles with references back to the 4hr for signals.
It’s looking like a nice forming of a double bottom pattern, so I am watching this one closely. If the trend can turn here, then it will produce a higher low which indicates an up trend forming.
I am just waiting for some more confirmation on both MATIC and BLOK before making a move. For MATIC, waiting for trend change confirmation to the downside or consolidation, and and then waiting on upward trend change confirmation in BLOK.
But don’t take what I say as financial advice, this is what I am watching!
Be Cool, Be Real, and always Abide!
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