If Comp gets rejected here it will go more down. BTC D is rising and alts are sinking. I opened a short and have a stop loss just above a resistance.
If compound moves back to the channel and test the support we can open a long and this will be just a fakeout.
The current situation:
1. Price action previously formed a double bottom on the 4HR chart, but once it got to the neckline at about 124 USD, it was rejected and apparently does not have the strength to break out. Currently, it looks more like a double top with a measured move of 110 USD from the neckline at about 117 USD.
2. There was bullish divergence on the...
BINANCE:COMPUSDT
Hello everyone.
As we can see :
- Convergence recently
- Heavy support
- Downward resistance
- Horizontal RSI resistance at 53.5
COMP is trending on last support !
Also this support is very heavy, we expect a pullback and a breakout from resistance also if RSI break 53.5 resistance then we will see a pump till 160$ resistance !
There is a...
Big W on Comp, opening a long on Comp with a stop loss right below the support line. It can blast if BTX goes sideways, but yes can dump also if BTC dumps.
💎Technical Analysis Summary💎
FTX: COMPUSD
-Compound Token is unable to break the trendline resistance
-It is facing rejection and might retest key level of support at 120s area
-My advice is to wait for the proper upside breakout before planing your entry
-You may look to enter with momentum breakout or wait for a pullback
-The upside potential is up to 180s...
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It remains to be seen if it can rise above the 145.30 point to form a double bottom.
We should also see if we get support at 145.30 and...
Comp has found a support around $127 and has hit that support two times and is now bouncing of.
This goes wish a llist of bullish divergences on the 4H Timframe, ending with a missing right shoulder divergence.
I expect after this divergence, at least a pull up to the +1 ATR on the 4H TF. Meaning a target of around 145.
Entry should be somewhere around...
comp/usdt dumped hard recently from 270$ to 125$
now its trading around 143-144
double bottom is clear in chart
we will buy the break of resistance around 148$
entery now at 144 is higher risk
targets :
152.5
159
165
175
after you buy stop should be 4H candle close below 137.98
good luck
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We have a great opportunity here.
If the price will show a re-low of the Support Level you can look for the Buy entry above the level.
The potential profit will be in 10...20 times bigger than the risk.
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