CoinGape

COMPUSDT Bullish Expansion| Fibonacci Extensions| Impulse Break

Long
BINANCE:COMPUSDT   COMP / TetherUS
Points to consider,

Preluding to the chart above, COMPUSDT’s Price Action found acceptance above the Local S/R before a strong expansion. This acceptance confirmed a Local S/R Flip Retest in a volatile zone, showing strength in the immediate short-term.

The Structural S/R was immediate resistance that got breached with conviction, allowing for Price Discovery . Price Action of current is testing Key Fibonacci Extension targets that are posing as resistance. A rejection of the 1.414 Extension has occurred, increasing the probability of a relapse into the Structural S/R for a flip retest confirmation.

The current Volume Profile is reading a clear influx as this rise in Price Action came to fruition. It is important for Price Action to have sustained follow through, failure will be indicative of weakness. The RSI is currently maintaining its Bullish Control Zone, remaining in these regions is acute for further upside.

Comments

excellent overview for the COMPUSDT, keep it up!
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out