COMPCompound is retesting the upper part of the triangle.
Expect breakout to the upside.
Values are on the chart!
COMP
COMP-USDTGreetings,
COMP is currently at #9 on the DEFI list. This coin I trade for a long time, but unlike other instruments DEFI (SUSHI, 1INCH, ZRX, YFI, MKR, etc. links will be found below), did not make trading ideas, it's time to correct.
On the daily chart we can see that the price works out a concave bottom with a target of +/- $800
On the 4-hour chart, an upward triangle is forming (lows are rising and the upper shelf is resistance level 530-560$, similar situation as in bitcoin before 50 k$
Also possible is the formation of an ascending wedge after the breakdown of the triangle, and its further break upwards. A breakout potential of the triangle is 50% from the upper boundary, which will also take the price to $800.
If the support of the trending triangle does not hold the price, the next area of interest in my opinion is where the drop will be repurchased at 340-360$.
To bitcoin, the price went under the trendline, which is not good, and a falling wedge has formed at the moment.
Daily chart
4 hour chart
Always use a stop loss, and do not use a leverage greater than x3.
A trader should always have tomorrow.
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COMPUSDT Credits: Seen on MitchRay's stream yesterday
The Compound Dragon pattern looks even better now, makin higher lows and potential hidden bullish divergences (as its tradition) developing on the daily and now bullishly engulfing on the last 4h candle of the day.
Compound (COMP) can potentially rise 160% - High and Tight FlagCOMP did break out above the top of the flag pattern, but the price has since dropped.
If the price can continue to rise we could see gains of 160%.
COMP/USD entry long limitEnter limit long 501
SL 435
PT 625
PT2 699
BE 555
RRR 1,85:1
BINANCE:COMPBUSD
COMP/USD entry long limitEnter limit long 475
SL 430
PT1 568
PT2 625
BE 522
RRR 2:1
mid term
BINANCE:COMPBUSD
$BTC Preferred PathI would much rather $BTC pull back and hold this line rather than let it keep straight mooning. We're still in price discovery. The $50k-$100k calls need to chill. Sustainable runs are built on support and healthy pullbacks.
COMPUSDT Short TermBreak out downtrend Channel ,We see the general trend within an uptrend channel.
I am waiting for the Targets
According to the 6% Stop loss, I recommend Spot.
$CRV - The next big runner in DeFi$CRV is going to $5 in the next 30-60 days, and ultimately 5x-10 from here. Most new projects are using Curve's liquidity pools to fuel theirs. Sure, plenty of $CRV not in circulation, but those will just minted as yield and rewards for those who have the capital to provide liquidity. Unfortunately $ETH gas fees are pricing out small investors right now.
🔥 COMP Rebound TradeCOMP has seen some bearish pressure over the last couple of hours during Bitcoin's incredible rise earlier today. After some consolidation, COMP has produced a big bullish candle. I interpret this candle as a signal for a new bullish move upwards.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
Comp potentially going further downI don´t see a good pull back structure on comp yet, so on my view is better to wait for a better entry.
🔥 COMP/BTC Bullish Trend OpportunityCOMP is one of the crypto's which is been absolutely killing it in the last couple of weeks, especially the USDT pair. However, the BTC pair has been lagging behind a bit.
With today's decline there's appeared a good long opportunity on the COMP/BTC pair. As I'm seeing it, today's decline is merely some of the larger investors taking profits without interfering in the overall trend.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
ETH/USD, Now and LaterI see something like this for $ETH in the next few weeks. Overall still bullish, but wouldn't mind short scalping here. RSI Bear divergence on this high. A retrace like this would be healthy for the overall markets. Scary but 35-50% drawdowns are typical in crypto, $1k and $850 range for ETH. I would scale out on ALTS into $USDT or $BTC and $ETH off of the insane recent run.
Is comp going to correct? I think so, my buy orders are waiting COMP is just a great project with lots of potential in the future but it just went to far away this time.
I would short if we were not in such a big bull trend time. I am hoping that it will fill my orders but maybe it wont.
On this cases I like to leave trap orders, if they get filled great, if not is ok.
DeFi World PerformaceThis is the chart comparing all DeFi tokens in the Defi Pulse Index (DPI) with ETH.
If you want to buy all, buy DPI with moderate performance.
UNI, AAVE, LRC, MKR outperform DPI YTD.
[$ETH] One of those targets - YOU CHOOSE ! One week before CME futures contracts released on $ETH , Feb 8th , we have a strong momentum for the overall Ethereum DeFi ecosystem , and it will give a major boost to the upside.
Monster volume ! some volatility will kick in like never :)
Let's have a seat and enjoy the journey to the moon !
Stay Safe
Trade Safe
Compound (COMP) Follow Up After 10-Jan.We looked at COMPBTC 2 days ago... You can see the chart below:
The previous article was on the 4H timeframe (short-term).
This one is on the daily with additional targets... Looks like COMPBTC is preparing to print a strong bullish move.
Remember, these smaller altcoins are a great place to build up your Bitcoin balance.
After the Bitcoin retrace is over, it will continue to grow.
Namaste.
Comp potential is thereOne of the few Alts that pumped today. Failed to breakout today from the rising channel. Bearish div on the RSI points to a pullback. If it can bounce of the midline of the channel it will form an inverse HnS. Breakout target is 288, resistances at 272.
