This is a bit of a late an dangerous entry but Comp has been so strong lately and is at a lvl where one could strategize an entry with a stop loss though not the best by any means i do still think there's a decent chance of it playing out so i think it's worth pointing out.
I am starting to form a new position on altcoins / COMPUSDT The fundamental coin is one of the leaders in the DEFI industry. Bought in the OTE buy zone (Optimal buy zone) This is a price correction to the 0.38-0.5 Fibonacci levels from the initial recovery impulse on June 26 - July 6. I bought only 20% of the entry, so that it could be averaged if the price falls...
Compound is looking very bullish on the COMP/USD and COMP/BTC pair. There are 2 trendlines to break out of for COMP on the BTC pair which it is testing the first, and as we can see we have a smaller S/R flip with a higher low just under a current resistance. If we break this resistance, there is not much in the way for a ~25% move to the mid-upper 600s as shown ...
HTF trend is bearish . Left clean lows on the way up, swept the high into the 61.8 and broke MS . Came back up to form a lower high that was swept and broke down further. Entered on market after the second break of MS . First target is the low of this corrective leg, second and third targets are the extension levels.
Comp is really nice.
I think i missed myentry for it but dont force my chances.
Any further bth correction is a simple signal for entry tho
I believe these targes will be reached by not the end of january or so on.
stop is on point
Let's see together!