COMP
LONG COMP - (chicago defi + TDAmeritrade)Compound initially began as a tokenless protocol. Upgrades and changes were made unilaterally by the Compound Labs team. The protocol was still non-custodial but there was a centralized entity that retained administrative privileges. In order to remove themselves from this position, the team introduced COMP, a token used to govern the protocol. After several stages, Compound is now fully controlled by COMP holders with no remaining privileges held by Compound Labs. COMP is part of the Chicago defi alliance + TDAmeritrade= growth in assets locked in the long run.
COMP/USDT 8h (Binance Fut.) Descending channel breakout & retest#Compound is pulling back to give us entry after that clear breakout of parallel channel.
I believe this is a new opportunity to long it before a possible bull run!
Current Price= 107.06
Buy Entry= 107.03 - 102.23
Take Profit= 116.77 | 123.26 | 133.20
Stop Loss= 96.51
Risk/Reward= 1:1.5 | 1:2.29 | 1:3.52
Expected Profit= +23.20% | +35.62% | +54.62%
Possible Loss= -15.52%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 480h
✳️Compound/USDT (27/10) #COMP $COMP #COMPUSDTCOMP is continuously breaking the lowest levels so we should not expect too much on this coin.
Currently, selling pressure has subsided and COMP is looking to rebound with Inverse Head & Shoulders. This pattern will be formed if the COMP fails to break the 92$ bottom and bounce back to break the 108$ zone. The target is the 120$ zone.
The main trend of COMP is currently moving sideways in the 90-120$ zone.
COMP will continue to bottom out if it breaks below 90$
COMP 1D. Next Potential Bottom Range is $72-80.Briefly about the protocol. The Compound Platform is a Defi lending project developed on the Ethereum blockchain. Basically, any cryptocurrency owner can deposit it into a smart contract, where it joins the liquidity pool and starts generating interest.
So far, the Compound protocol supports the following altcoins : ETH, DAI, SAI, USDC, USDT, WBTC, ZRX, BAT, REP.
We have seen a strong downtrend since September. However, there was a light at the end of the tunnel! After sellers tested the mark $94. The price exited the falling channel and attempted to break the level $107.5, which would open the way to $123.
However, it could not be done and the light went out at the moment.
In our opinion, the scenario of the COMP price returning to the falling channel is more realistic. Moreover, we think that the token will renew its historical low and stop in the range $72-80.
An alternative scenario is possible only after fixing above $107. If we see such a probability, we will immediately publish an idea about it!
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COMP/USDT 8h (Binance Fut) Descending channel on midline support#Compound retracement is almost over, be ready for uptrend soon!
Current Price= 105.43
Buy Entry= 107.19 - 103.59
Take Profit= 116.79 | 127.66 | 135.99
Stop Loss= 93.99
Risk/Reward= 1:1 | 1:1.95 | 1:2.68
Expected Profit= +10.82% | +21.13% | +29.04%
Possible Loss= -10.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 360h
COMPUSDT - Support and bullish divergences
Comp has found a support around $127 and has hit that support two times and is now bouncing of.
This goes wish a llist of bullish divergences on the 4H Timframe, ending with a missing right shoulder divergence.
I expect after this divergence, at least a pull up to the +1 ATR on the 4H TF. Meaning a target of around 145.
Entry should be somewhere around 132-133
Stoploss is a bit below the level of support, 125.
I will exit around 145, and leave a third of the stack run with a trailing stoploss.
entry: 132-133
SL: 124.95
Target 1: 145 (2/3)
Target 2: 156