There are double bottoms on all major time frames except the monthly and this is a bullish reversal pattern. The neckline is at about 145 USD and the measured target is at about 170 USD.
There is also bullish divergence on these major timeframes so if it plays out, it can be a catalyst for a reversal. But with the market conditions right now, it may or may not...
Looking to ultimately retest the local highs, with intermediate targets on the chart. The market as a whole looks very bearish, so I wouldn't be surprised to see it dip down to the $120 zone at some point, but the support here is reasonably strong so it should at least put up a fight. If the support in the $140s breaks down easily, it will erase my confidence in...
New to trading and still learning to properly chart, but spotted this inverted cup & handle that looks like it may play out soon for COMP.
Thinking of shorting the break down at $146, then measured move down to $110-120.
Am I think about this correctly?
*disclaimer* I don’t keep a position in this project so please do your own research. If you’d like updates on this TA, just leave a message below!
Following a healthy market correction of almost 50% price action finds support on the golden ratio (0.786).
Facts of the 1-day chart:
1) Stochastic RSI is oversold and indicating an increase in momentum. Bullish...
Market-wide pullback took Compound with it, but still remains bullish.
Mapped are Support and Resistance Zones to be observed for more clues.
Sure that is a lot of lines and zones, but each one WILL react so be ready.
$ 203.84 - 205.85 is KEY support that bulls really need to hold.
$ 189.01 - 191.33 is a possible target for a sub-200 Stop-Hunt wick.
$ 225.01 -...
COMPUSD has been on a tear these 2 days and looks too overextended on the 12HRs and under hourly timeframes
The bearish case:
1. Market structure: price action got rejected at the 78.6% Fib level, which is at about 270 USD.
2. Volume: the rejection at 270 was with decent sell volume , which is at about the same volume with the previous 2 green candles.
Cup and Handle pattern developing on a GREAT coin, COMP - the first Yeild Farming coin, looks like we might have a retrace - shooting down to 50% (doesn't have to be that big of a retrace)
Once the retrace breaks, we will check the fib level we shot off of, and if its a Fibonacci Trade, this is a no brainer.
Considering the entire move up to as Wave (1) of a new cycle ad now we saw a drop to 0.618Fib for wave (2) correction Also bullish divergence on RSI
Invalidation: $120 (Below wave 1 start)
T1: $360 (in case ABC)
T3: $580++ (Min target for wave (3))
All the best!
COMPUSD hit my buy targets, but the support line morphed to shakeout weak hands. I think we will retest $275 resistance. If the support line breaks, I'd sell and rebuy at the next support level in the $140s. Let's see what happens.
Compound begins the new month in style, breaking above $250.
Compound must rise above $260 to sustain the bullish case and avoid a potential double-top pattern breakdown.
Compound, one of the major decentralized finance (DeFi) tokens is a consistent upward roll following the key support embraced at $160. The support came in handy after the token spiraled from...
I should've posted this sooner. But, I drew the blue lines and the resistance below about 3-4 days ago. COMP was looking to break out, and obviously, it did now. However, it could possibly keep running. Hard to gauge right now, still holding.
Positions: I bought at $175 average