without_worries

Compound (COMP) vs BTC

Long
COINBASE:COMPBTC   Compound / Bitcoin
On the above 1-day chart price action has corrected 40% since early July. A number of reasons now exist to be bullish , they include:

1) Price action resistance sees breakout after 63 days (pink line).

2) A ‘incredible buy’ signal was recently printed.

3) Price action made an impulsive move to the upper side of the Bollinger Band (not shown here).

4) Multiple oscillators are diverging with price action (purple circles).

5) The weekly chart (below) is printing an ascending triangle . It has yet to breakout, however I would have no issues going long based on the daily chart alone.

Is it possible price action falls? Sure.

Is it probable? Very unlikely.

1st target is 14k sats

2nd target? That happens after the weekly chart breakout. I’ve no idea.

Good luck!

WW


Weekly chart

Trade active:
On the 2-day chart below RSI resistance is broken with back test complete.


BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

ETH
0x9f9b2d80747ac09d2d7bb63761e10b9a9738df52

Allow 3-6 months on ideas. Not investment advice. DYOR
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