COMP/BTC Long
COMP/BTC is one of the more undervalued DeFi Bluechips:
As the governance token for a well executed lending
and borrowing platform with a TVL of ~9.42B,
a market cap of only ~2.35B is not a worthy valuation
for what this protocol offers.
Coupled with the fundamentals. the COMP technicals
look primed for expansion upward.
The Madrid Moving Average Ribbon has twisted green
which is an early indicator of trend change, signaling
that a new uptrend will be starting.
Price has broken out of a bull pennant and retested
the top diagonal as support ready to make a move
up to the long term diagonal down trend line (orange)
and once price confirms and S/R flip there, we should
see forceful price movement potentially to the
0.618 fib retracement line around
.019708
As the governance token for a well executed lending
and borrowing platform with a TVL of ~9.42B,
a market cap of only ~2.35B is not a worthy valuation
for what this protocol offers.
Coupled with the fundamentals. the COMP technicals
look primed for expansion upward.
The Madrid Moving Average Ribbon has twisted green
which is an early indicator of trend change, signaling
that a new uptrend will be starting.
Price has broken out of a bull pennant and retested
the top diagonal as support ready to make a move
up to the long term diagonal down trend line (orange)
and once price confirms and S/R flip there, we should
see forceful price movement potentially to the
0.618 fib retracement line around
.019708
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