COMP Long after deviation BINANCE:COMPUSDT
Would be good to see deviation on Comp chart before spring rally
Possible Targets and explanation idea
➡️We trade in a range since collapse in June. Leave liquidity under 26$
➡️ Possible move over 40$ than down
➡️ Would be good to see final drop under buy line "Take profit" indicator and grab all liquidity in January
➡️ Than climbing up out of range to test middle term Fib 0.5 lvl by end of spring. Than retest support block
➡️Its more middle term targets for COMP for this February - April 2023
➡️Only in 2024 we can see full rally on this coin.
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Compoundlong
COMP next accumulation phase before bull runBINANCE:COMPUSDT
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Around 460 days we are in downtrend! Last time for Comp was enough 145 days for accumulation stage before pump, lets see how it plays this time. Sellers and buyers local block I marked red and green! If we out over 72$ its will be good sign for continuation, but honestly even BTC reach 29 I think at 70-72 Comp meet strong sellers orders and going back to test even 30$. Everything can happen.
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Compound targets programmed
Possible Targets and explanation idea
➡️Cut all noise on chart. Open weekly chart
➡️Fib in play. Weekly retracement FIB. We came in -0.27 level (accumulation zone)
➡️White dashed line is main middle term stop losses. Play like magnet
➡️Trade under fundamental price (real value price) based on Take Profit indicator.
➡️Magnet Is take profit line of Take Profit indicator and Exit line (grab stop losses)
➡️You don't need make a lot of lines and drawings on chart to understand main trend and targets if you have a right tools
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Compound (COMP) formed huge Gartley for upto 856% big pumpHi dear friends, hope you are well and welcome to the new trade setup of Compound (COMP) token.
On a monthly time frame , the price line of COMP has formed bullish Gartley pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Compound. HTF channel bottom. NFA. DYORAfternoon, with bitcoin trending north it has given time for people to accumulate alts before they follow later on in Q4 when BTC takes a breather from taking out shorts.
Nice and simple chart here looking at the HTF. Compound is sitting nicely at the bottom of its channel which has been the launchpad for its runs in the pass. Has a nice support and resistance flip which is only invalidated if we lose 280, close below and then reject on the higher time frames, which I cant see happening personally but hey ho.
Pending fisher cross on the 3D below -2 has only happened 3 times, and when it does, they are explosive.
CMF holding above the zero line which indicates strength in the market.
This appears to be a good place to build a position if have not done so already or place buy orders on support at 281.
Initial targets are the 0.5 fib channel which was rejected at the rally at the start of July, will reassess position forthwith. If the .5 if flipped to support then we target the top of channel.
In no way Financial advice and always do your own research.
COMP/USDTCOMPOUND trend in falling wedge where make a bottom at 279$ and then test it three times ..so my conclusion is "that is a solid bottom :)" then broke falling wedge pattern make support on golden pocket 315$ ..now need to flip resistance to support at 338$. where make a potencial W pattern/bullish ..potencial long price is on the chart..cheers
COMP Really loves this formationI recently made a post on COMPS affection for the inverse H&S
This current one, a bitcoin pair is showing the same signs however with a slight difference on the positioning of the head
Hopefully a bounce back into the channel and further upsides to come
I am long COMP
Taking profit by moving up the SLWe are taking profits on Compound by moving up our stop loss to 350
We entered the trade on the break of the psychological level of 200. We are still targeting the ATH of 900 but decided that at 100% profit now, we should lock in 75% of it if it drops.
You can enter this trade at those levels now also and put your stop loss and take profit similar levels. Risk less than 100 to take 500.
COMP/USDT potential 82% setupHello, Traders!
After correction, the price of COMP returned to the active trading zone of $379 - $435.
MA100 acts as dynamic price support.
Cumulative delta analysis shows the presence of demand from buyers.
We may consider purchases in the range of $379 - $421
Stop-loss can be located under the price level of $292
Targets are the price levels
$492
$550
$608
$691
Good luck and watch out for the market
COMP-6h. Will there be consolidation before test $190?Yesterday's sharp drop in the COMP market showed that continued growth without consolidation is unlikely. In fact, in an hour the sellers lowered the price by 7%.
The COMP price stopped before the critical range of $133-140 . Near the $133 mark is a global trend line , which buyers have been holding since the beginning of November. Its breakdown will lead to a sharp drop in prices to $100 . Given the positive dynamics of the cryptocurrency market, the probability of this scenario is low.
However, it is better to temporarily get rid of the token if the price is fixed below $130.
Our main scenario is to continue growing to $190 . However, this requires complete depletion of sellers at local lows.
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Can it hold above these KEY levels of support to go higher?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky.
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Looking for THESE confirmations of a reversal*DISCLAIMER: These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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COMP/USD towers above major cryptos like Bitcoin eying $260
Compound begins the new month in style, breaking above $250.
Compound must rise above $260 to sustain the bullish case and avoid a potential double-top pattern breakdown.
Compound, one of the major decentralized finance (DeFi) tokens is a consistent upward roll following the key support embraced at $160. The support came in handy after the token spiraled from highs above $260 (a high formed on August 12). The decline was also consistent with various tentative support areas at $220 and $200 and $180 failing to rise to the occasion.
Compound is among the leading cryptocurrencies in the DeFi ecosystem. It is an Ethereum based token mainly used for lending. According to DeFi Pulse, an aggregator platform, COMP is currently the seventh-largest DeFi token. About $766 million of funds are currently locked in in Compound, trailing protocols like Yearn.finance and Synthetix. Aave continues to dominate the DeFi space with $1.52 billion in total locked value followed by Maker at $1.48 billion.
Compound technical Picture
At the time of writing, COMP is hovering at $250. All eyes are locked on breaking past the next key hurdle at $260. With the Relative Strength Index (RSI) moving higher above 70, there is a high probability that the token would in the near term climb above $260. The same bullish scenario is supported by the Moving Average Convergence Divergence (MACD). Besides, extending the action higher within the positive region, a bullish divergence above the MACD signals that buyers have the upper hand.
On the downside, if the resistance at $260 is not broken, an early spotted double-top pattern could pull Compound downwards, retesting possible support areas at $220, and $200. Meanwhile, seeking support above $250 or even $240 should be key among the bulls as it would give them an opportunity to stage a formidable attack on $260 and $280 respectively.
Compound Intraday Levels
Spot rate: $248
Relative change: 5.10
Percentage change: 2.27%
Trend: Bullish bias
Volatility: High
Possible trend reversal coming up for Compound?COMP, currently in a downtrend, is in an overall falling wedge pattern, which is bullish. Also, several of the most recent candles show inverted hammer patterns, which suggests we could be seeing a trend reversal soon. There has been a long downtrend lately, but things could soon take a turn upwards. Going to be watching for other signs as well.
Other Fibonacci pattern for Compound & why you should be a bullUsing the Fourth of July low as a bottom (as opposed to the starting price), we see nice Fibonacci lines as well. Note that the chart has bounced several times at the $245.50 level, so expect to see tough resistance there on the way back up. If/when we eventually surpass our prior early peak, we could see prices up to $514.90 or even more optimistically $732.85.
My reasons for being bullish in the long term are simply that I believe the Compound protocol itself is something that is only going to catch on to a wider audience as time goes on. I see a future where Venmo users switch to paying each other with smartphone apps that use stablecoins, and those stablecoins gain interest through the Compound protocol when they are sitting idle. Such apps already exist, but they have yet to be discovered by a broad mainstream audience. As of this writing, the iPhone app Dharma has 4.4 stars, but only 72 ratings. People love it, but most haven’t discovered it yet. The benefit of gaining interest with the Compound protocol has already been realized by crypto users, and there is a clear path to its realization by the mainstream public through smartphone apps.
The recent change in Compound rules made it so that crypto users could not milk the system by “yield farming” with an exorbitant number of BAT tokens gaining interest at over 20%. The change in rules now means that stablecoin users have more to gain from using the protocol. This means two things that are very promising for the long-term future of Compound and for the COMP token itself as an investment:
1) Smartphone apps that utilize Compound and stablecoins will allow the mainstream public to pay each other with stablecoins, which unlike money in a Venmo account, gain interest, but unlike cryptocurrency, don’t come with confusing conversion rates and volatile price swings.
2) The demand for the COMP token will be driven by the incredible power that it gives token holders. A few days ago, BAT token in Compound was gaining >20% APR. Yet a single decision made by COMP token holders changed the rules such that BAT currently receives 0.10% APR. That demonstrates that COMP token holders collectively have an enormous amount of power. In theory, supporters of a specific altcoin project could try to buy up as much COMP as possible in hope of being able to affect such a decision in a way that favors their coin’s APR, with hopes that doing so would lead to increased purchase of their token. Thus, owning COMP tokens gives its owners incredible power over the Compound financial system and, as an ever-expanding pool of people use this system (for reasons stated above), the desire to own COMP will increase, driving up demand and thus driving up the price of COMP.
“When you think about every bull market, there’s one common thread: an expanding universe of people who own it.”
-Paul Tudor Jones
“Be fearful when others are greedy and greedy when others are fearful.”
-Warren Buffett
Give up on Compound??So, you gave into FOMO. Compound was shiny and new, exploding onto the scene. You surely were the first one to notice, since it had only been trading for a few days, and that makes you an early adopter. But ... it turns out that bubbles crash. You bought high. Now you’re frustrated and thinking of selling — selling low. DON’T! The same reasons you thought this was a good long-term investment are still reasons.
As per usual, Fibonacci will determine where this goes. Here are the Fibonacci lines. We can see that we are currently testing *two* resistance lines! If these both break, expect good things. Which Fibonacci lines it stops at next, no one knows, so I’ve drawn out a few guesses with arrows.
You bought on a bubble. It’s human nature and you’re human. Now it’s time to ignore the urge to sell low. You know that Compound is revolutionary and, yes, you are an early adopter. Stick it out. Or maybe buy a little more. Outsmart the other humans with math!