✴️ Compound Major 60% Correction, What Now? 100% Bullish!
Compound followed Bitcoin and the rest of the Crypto-market in the recent panic crash and resumed its correction. This led to a wick low yesterday of 35.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong correction, the RSI went oversold on the daily yet the trading volume is relatively low. What I am trying to get at now is that this can very well be the correction low.
If we were ready to see a rise before, imagine now after this major flush.
The stronger the drop, the stronger the recovery that follows.
Technically speaking, Compound continues 100% bullish based on the fact that it trades within a higher low.
There can be some sideways before the next jump or more likely a fast resumption since the drop was caused by whale selling rather than retail.
✔️ There will be many opportunities now.
✔️ Each chart must be treated separately.
✔️ Patience is key.
Thanks a lot for your support.
Namaste.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong correction, the RSI went oversold on the daily yet the trading volume is relatively low. What I am trying to get at now is that this can very well be the correction low.
If we were ready to see a rise before, imagine now after this major flush.
The stronger the drop, the stronger the recovery that follows.
Technically speaking, Compound continues 100% bullish based on the fact that it trades within a higher low.
There can be some sideways before the next jump or more likely a fast resumption since the drop was caused by whale selling rather than retail.
✔️ There will be many opportunities now.
✔️ Each chart must be treated separately.
✔️ Patience is key.
Thanks a lot for your support.
Namaste.
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🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
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