✴️ Compound Renko Confirms Bottom, New Multi-Year Long Uptrend
In this Renko chart for the COMPUSD (Compound) pair we have a mixture of signals and systems.
We are using it to spot a bottom and also confirm the reversal of a trend.
The fact that we have a perfect flat correction (3-3-5) based on EW coupled with the highest volume ever, 4 green bricks on the weekly timeframe, all confirm that the bearish trend is over.
This thing can literally change and reverse but as it is now we have a newly developing uptrend.
Compound is entering a new bullish trend that can last for years.
The next All-Time High can go beyond $1,600 or even up to $2,000. This is my projection for late 2024 or early 2025.
Thanks again for reading.
Namaste.
We are using it to spot a bottom and also confirm the reversal of a trend.
The fact that we have a perfect flat correction (3-3-5) based on EW coupled with the highest volume ever, 4 green bricks on the weekly timeframe, all confirm that the bearish trend is over.
This thing can literally change and reverse but as it is now we have a newly developing uptrend.
Compound is entering a new bullish trend that can last for years.
The next All-Time High can go beyond $1,600 or even up to $2,000. This is my projection for late 2024 or early 2025.
Thanks again for reading.
Namaste.
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