Potential Short term Short on COMP/USDT
Updated
We have some bearish divergence on Compound/USD with a lower highs being made on the RSI while Higher Highs being made on the price....
Next potential high and resistance looks like it lines up with the rising wedge, the .236 Fib, and the 300 EMA...
Looking to enter a short, from 370-380 with an exit target around 330. Also keeping in mind the BTC is also looking week and if BTC breaks down then I will just hold on to my COMP short worst case take a stop loss /stop profit in the 350 range...
If it fails a stop loss will be placed in 410 for protection of capital.
Next potential high and resistance looks like it lines up with the rising wedge, the .236 Fib, and the 300 EMA...
Looking to enter a short, from 370-380 with an exit target around 330. Also keeping in mind the BTC is also looking week and if BTC breaks down then I will just hold on to my COMP short worst case take a stop loss /stop profit in the 350 range...
If it fails a stop loss will be placed in 410 for protection of capital.
Note
Growth is looking week and having a hard time getting past 350-358... Might star laddering in shorts starting at 350.
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