critical test tonight of the 0.5 FIB for MATIC

24 May 2019

if matic can close an hourly candle above the 0.5 fib fan I have drawn, I will climb to the next Channel and move to push above the .38 fib channel and could make an all time high... maybe even tonight but I doubt it. If it fails to break the 0.5 fib fan which currently would be somewhere in the 0.02925-0.0305 range depending on time, that would spell a rejection and a retrace to test the 0.618 fib once again in the low to mid 0.02 range. Given we have an upwards trending channel (creating higher lows) I would not expect another 0.0205 but rather a bottom of 0.023-0.024 would be much more likely. Until there is confirmation of a break one direction or another, I honestly do not know how to play this.

I appreciate any advice or input guys. Thanks and good luck!