If you’ve been following Stock Surge Daily for a while, you know that I mostly trade small-cap stocks.
But I also dabble in digital currencies.
In fact, I was able to buy a Rolex watch with the profits from an Ethereum trade a couple years ago.
Are digital currencies going to replace national currencies like the Japanese Yen and the US dollar?
Well, I’m not sold on that yet…
But there is definitely money to be made by trading them.
Different Market, Same Rules
Like I always say… I like to date stocks, not marry them.
I want to be involved when things are good, and I get out at the first sign of trouble.
Digital currencies are no different.
BTC, Ethereum and most of the other major names are down big over the last few months.
Many are below their 200-day moving averages, which is a no-go zone when it comes to buying.
I will not buy an asset trading below its 200-day average.
Period. No exceptions.
But I scanned some charts on Wednesday and found digital currency that looks great.
It’s called Polygon, and it trades with the symbol MATIC.
Full disclaimer… I know nothing about the MATIC network coin.
But the supply/demand approach to trading is timeless.
And MATIC is setting up in a textbook compression pattern.
Breakout on Deck?
After smaller pullbacks that compressed from 76% down to 33%, MATIC is breaking out into new highs.
The last time MATIC completed a pattern like this, price soared over 8,000% in just five months.
Here’s a zoomed-out view on a weekly chart…
Remember… Digital currencies are risky. And there is no guarantee that this trade will work.
But if you’re looking for action, I think this one is worth a shot.
Embrace the surge,
Editor, Stock Surge Daily