Matic Network is up 1000% this year and doubled in price in a month. We catch up with Trader Cobb to see how his other predictions panned out.
Everyone’s talking about scalability right now.
Some claim Bitcoin can’t scale, while other’s say Ethereum’s scalability issues have ruined it for business.
Although Ethereum is trying to reinvent the wheel with Ethereum 2.0, layer 2 solutions like the Lightning Network aim to provide faster transactions off the main Bitcoin network.
That’s essentially what Matic Network does for Ethereum as well. It’s a scalability solution the uses Proof of Stake and Plasma side chains to enable up to 65,000 transactions per second.
It’s up almost 1000% from its low this year, and it’s doubled in price this month alone.
Trader Cobb’s watchlist
Last Friday we caught up with Trader Cobb to get a sneak peak at his watchlist – and Matic was on it.
“From that Friday it went up 50%,” he said. “There was actually a pull back (and buying opportunity) but I was asleep because it was 3 in the morning.”
While Micky tries our best to uncover reasons for moves in the market (see above), Trader Cobb (real name Craig Cobb) is all about the charts, and whether he can identify a nice set up for a trade that then also ticks all the boxes on his extensive checklist.
“I don’t care why it went up, I just follow trends,” he says.
Big news for Binance! CZ has confirmed he will add some great new features for traders that will make the platform unstoppable!
Full Interview: https://t.co/E2aMaUVbz4
— TraderCobb (@TraderCobb) November 26, 2019
Cats in the cradle
One key thing he looks for is when the price to pulls back into the 10 and 20-day moving average, which he calls ‘the cradle zone’. This provides one of the key signals for a potential buying opportunity.
Also on his watchlist on Friday waiting for ‘the cradle zone’ was Fetch.ai, Digitex Futures, Enigma and Ripio Credit Network.
“Basically a number of them took off and ran really well, and a couple of those are starting to come back into the cradle zone now,” he said.
Fetch a.i: “It’s pulling back into the cradle zone now so my attention is focused on that.”
Digitex Futures: “It pulled back into the cradle beautifully well that day (Friday) but just didn’t give me the trading opportunity. It didn’t meet my checklist rules, so it’s not worth watching now.”
Enigma: “There’s a small bullish candle right now in the cradle zone. I might take that trade tomorrow if that cradle closes small and bullish and if it fits the checkllist.”
Ripio: “Last week it pulled back into the cradle, and at it’s peak it was up 55%. It’s since pulled back.”
With Ravencoin, Cobb said that “there’s an opportunity around 0.00000315 if it breaks out”. Well, there was, it did, but the exact setup he needed didn’t appear.
“That’s currently up 18% from the resistance level we spoke of. I didn’t get the entry on that, it just blasted straight through.”
With any trade he makes – no matter how promising – Cobb always places the same amount of 1% of his portfolio.
“I always place the same amount because never know what will and won’t work,” he says. “Just because a good trade set up doesn’ mean it wil be profitable.”
Cobb has also just added Kyber Network to his watchlist.