{"id":9352,"date":"2021-10-26T15:40:38","date_gmt":"2021-10-26T19:40:38","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=9352"},"modified":"2023-01-27T11:21:33","modified_gmt":"2023-01-27T16:21:33","slug":"matic-bull-pennant","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/matic-bull-pennant\/","title":{"rendered":"Hot Crypto Trade Signal: $MATIC Breakout from Bull Pennant Pattern"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC102621.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC102621.png\" alt=\"\" width=\"728\" height=\"530\" title=\"\"><\/a><figcaption class=\"wp-element-caption\"><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">TABLE OF CONTENTS<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/morpheustrading.com\/blog\/matic-bull-pennant\/#Polygon_MATIC_recently_broke_out_from_a_massive_bull_pennant_pattern_Is_now_the_time_to_buy\" >Polygon ($MATIC) recently broke out from a massive bull pennant pattern. Is now the time to buy?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/morpheustrading.com\/blog\/matic-bull-pennant\/#MATIC_poised_to_explode_as_it_breaks_out_from_a_weekly_bull_pennant\" >$MATIC poised to explode as it breaks out from a weekly bull pennant<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/morpheustrading.com\/blog\/matic-bull-pennant\/#Buy_entry_announced_for_Morpheus_Crypto_members\" >Buy entry announced for Morpheus Crypto members<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Polygon_MATIC_recently_broke_out_from_a_massive_bull_pennant_pattern_Is_now_the_time_to_buy\"><\/span>Polygon ($MATIC) recently broke out from a massive bull pennant pattern. Is now the time to buy?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Polygon ($MATIC) is currently the twentieth largest crypto asset, with a market cap of more than 12 billion dollars.<\/p>\n\n\n\n<p>Through its <a href=\"https:\/\/quickswap.exchange\/#\/swap\" target=\"_blank\" rel=\"noreferrer noopener\">QuickSwap<\/a> decentralized exchange, $MATIC enables crypto investors and traders to execute transactions on the Ethereum blockchain at a much lower cost.<\/p>\n\n\n\n<p>Because of these lower fees, Polygon is now growing twice as fast as Ethereum at the same point in its lifecycle. <\/p>\n\n\n\n<p>Check out this recent <a href=\"https:\/\/www.coindesk.com\/business\/2021\/10\/20\/polygon-becoming-increasingly-independent-from-ethereum-as-app-numbers-rise-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a> about the amazing growth of Polygon.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MATIC_poised_to_explode_as_it_breaks_out_from_a_weekly_bull_pennant\"><\/span>$MATIC poised to explode as it breaks out from a weekly bull pennant<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Morpheus Crypto <\/strong><\/a>portfolio recently scored a <strong>+23% gain<\/strong> when we bought a breakout in $MATIC and sold it ten days later.<\/p>\n\n\n\n<p>We&#8217;ve kept $MATIC on our radar and have been waiting for the ideal re-entry point&#8211;and that time has come!<\/p>\n\n\n\n<p>Here&#8217;s why:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC102621.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC102621.png\" alt=\"\" width=\"728\" height=\"530\" title=\"\"><\/a><figcaption class=\"wp-element-caption\"><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p>$MATIC recently broke out above key resistance of its prior high from early September (yellow horizontal line).<\/p>\n\n\n\n<p>More importantly, $MATIC broke out above the upper channel of a weekly <a href=\"https:\/\/www.investopedia.com\/terms\/p\/pennant.asp\" target=\"_blank\" rel=\"noreferrer noopener\">bull pennant<\/a> pattern.<\/p>\n\n\n\n<p>The reduced supply technically sets up $MATIC for a +50% advance to test its all-time highs from May 2021 ($2.70 area).<\/p>\n\n\n\n<p><iframe loading=\"lazy\" width=\"580\" height=\"680\" src=\"https:\/\/4966a6ff.sibforms.com\/serve\/MUIFAOyl4S5Qdajs7q3LemJKudDbMHB24p2SAorKuWWuauy3e1eFPtLgTh5BoPCh3XzIz3rZE_YyIqvc9IEl_xMkRg3MTlG0Zn5eqY3J2eKMjOE-jPuS43ZXewKssUaGt1kllR56wV2u1lBXoYfKSzEgeeTjLyjdSao87VmqsbDtgcy4jNwHMSzf0Rl346rIoBjtZwf-DX0V6tbn\" frameborder=\"0\" scrolling=\"auto\" allowfullscreen style=\"display: block;margin-left: auto;margin-right: auto;max-width: 100%;\"><\/iframe><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Buy_entry_announced_for_Morpheus_Crypto_members\"><\/span>Buy entry announced for Morpheus Crypto members<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>$MATIC is currently showing a <strong>gain of +15%<\/strong> in the Morpheus Crypto Portfolio since our entries shown below.<\/p>\n\n\n\n<p>On October 15, we alerted <strong><em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto<\/a><\/em> <\/strong>members that we were buying a <em>partial<\/em> position of $MATIC at $1.48.<\/p>\n\n\n\n<p>When we received more bullish price confirmation, we then added to the position on October 23 at $1.64, giving us an average price of $1.59:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC2102621.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MATIC2102621.png\" alt=\"\" width=\"728\" height=\"530\" title=\"\"><\/a><figcaption class=\"wp-element-caption\"><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p>Our initial protective stop at entry was set at $1.28. <\/p>\n\n\n\n<p>After we enter a new crypto swing trade, we trail the stop price higher as the price moves further in our favor. <\/p>\n\n\n\n<p>Trade alerts are sent to notify subscribers of our exact entries, stops, and exits. <\/p>\n\n\n\n<p>Speaking of hot crypto signals, <strong>Quant ($QNT) is also breaking out from a bull pennant pattern<\/strong> and is poised for a massive rally as well. Check our previous analysis on the $QNT setup <a href=\"https:\/\/new.morpheustrading.com\/blog\/qnt-breakout-setup\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Get started now<\/a><\/strong> with Morpheus Crypto to be instantly alerted to our exact buy and stop prices of the next big winning crypto swing trade.<\/em><\/p>\n\n\n\n<p><em>By the way, if you&#8217;re brand new to crypto trading, Morpheus will help you get set up the right way<\/em> <em>now.<\/em> <\/p>\n\n\n\n<p><em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Get started now<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon ($MATIC) recently broke out from a massive bull pennant pattern. Is now the time to buy? Polygon ($MATIC) is currently the twentieth largest crypto asset, with a market cap of more than 12 billion dollars. Through its QuickSwap decentralized exchange, $MATIC enables crypto investors and traders to execute transactions on the Ethereum blockchain at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[772],"tags":[],"class_list":["post-9352","post","type-post","status-publish","format-standard","hentry","category-crypto-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=9352"}],"version-history":[{"count":31,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9352\/revisions"}],"predecessor-version":[{"id":15782,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9352\/revisions\/15782"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=9352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=9352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=9352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}