COMPUSD trade ideas
COMP perfomance, long 45% profitsSo we tooke 2 signal, the first one 100% swing trade and the second one 45% and still goin!
i think Comp is going for at least double the price.
COMP/USD - Bullish Pattern Developing, buy the retraceCup and Handle pattern developing on a GREAT coin, COMP - the first Yeild Farming coin, looks like we might have a retrace - shooting down to 50% (doesn't have to be that big of a retrace)
Once the retrace breaks, we will check the fib level we shot off of, and if its a Fibonacci Trade, this is a no brainer.
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
#COMP risk if given chancegonna wait for this to retrace or breakout & retest, longing here doesn't have good R:r
COMP breakoutI should've posted this sooner. But, I drew the blue lines and the resistance below about 3-4 days ago. COMP was looking to break out, and obviously, it did now. However, it could possibly keep running. Hard to gauge right now, still holding.
Positions: I bought at $175 average
Areas To Watch...Somewhat new coin with barely any resistance above could potentially go into price discovery, key levels marked.
COMPUSD guess again againCOMPUSD hit my buy targets, but the support line morphed to shakeout weak hands. I think we will retest $275 resistance. If the support line breaks, I'd sell and rebuy at the next support level in the $140s. Let's see what happens.
COMPOUND (DeFI is in the rage right now)Updated View On COMPOUND (24 APR 2020)
Decentralized Finiance is all in the rage right now.
Since Compound project is supported by Coinbase, it has reputation.
Let's see how high it can go. I am bullish on this.
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Crazy COMPOUND potential !COMP show interesting signs after retrace Wave 1 to 0.618 FIB. Same for COMPBTC pair.
Potential looks crazy even considering first Wave 3 target at 1.618 (based on Elliot waves analysis). DeFi hype could help.
We do not have a lot of datas for the moment so we have to follow. Let's see
See u
$COMP - Next minimum target $350Considering the entire move up to as Wave (1) of a new cycle ad now we saw a drop to 0.618Fib for wave (2) correction Also bullish divergence on RSI
Invalidation: $120 (Below wave 1 start)
Confirmation:> $260
T1: $360 (in case ABC)
T2: $420
T3: $580++ (Min target for wave (3))
All the best!
COMP/USD ideabullish signals :
-> On the 4 hours chart the signal tested the EMA200 which seems to act like a support for now
-> the MACD seems ready for a green cycle
-> RSI is close to an oversold state
I would expect a re-test around 200 which will probably act like a psychological resistance in a first time.
COMPUSD guess againLike last time, my confidence is lower than usual on the timing, but I'm more confident on the levels here. There's a lot of divergence on shorter timeframes, so it either needs to rocket above $300 very quickly and continue the parabolic ascent to break the divergences, or relax a bit over the next few days. I wouldn't necessarily short these levels, but I'm just waiting for a pullback.
Compound token breaking out again?
Bullish moving averages
Wedge breakout
What happens when people find out that crypto earns you dividends?
What happens when people find out that staking DeFi earns you 10X the interest than a bank?
Of course there's a risk, but wouldn't they want to try it out with at least 10% of their capital?
Stop loss(M) : $183
