COMPUSDT trade ideas
COMP Long Setup with PA, Max TP %20OKX:COMPUSDT.P
There is an obvious clear bullish Elliot Wave, however we do not know the exactly where the 4th wave ends? Therefore to open position we need a solid bullish price action min in 1H time frame. After that it will be very easy to manage the position.
Good Luck Everyone!
Spotlight on COMP: Imminent Breakout and Bullish Momentum🚀 💎Yello Paradisers! Get ready for a thrilling venture with COMPUSDT. We've detected a triumphant escape from the descending channel, paving the way for a potential bullish ascent.
💎From our prior assessments, we witnessed the metamorphosis of demand into supply, with COMP revisiting the falling channel support.
💎At this time, the substantial volume in VRVP is signaling a probable bullish trajectory in the near future. Overcoming the monthly resistance is poised to reinforce this ascending momentum.
💎Conversely, if the price breaches the 45.45 level, it could amplify the bearish momentum, making it plausible for the price to revisit the former support level.
💎Trade with caution and implement stringent stop-loss measures. Stay vigilant to the evolving market conditions and keep abreast of further insights!
📉 COMP/USDT Signal Alert: Balancing Act! 📈Critical Levels to Watch:
🚀 Breakout Point: $50.14
🔥 Bullish Targets: $54.58 and $57.22
🐻 Bearish Zone: Below $46.47, with potential drops to $37.35 or $36.27
👁️🗨️ Analysis: COMP/USDT is at a pivotal juncture. Keep your eyes peeled for these key levels:
🟢 Bullish: If it breaks $50.14 and holds a 15-minute candle above this level, we're aiming for the skies!
🔴 Bearish: On the flip side, a drop below $46.47 could send us on a downward journey.
📢 Trade Strategy: Patience is key! Set your alarms at $50.14 and $46.47. Once triggered, make your move. Enjoy the ride!
Bitxer's insights are your guide to navigating the crypto seas. 🌊📊
COMP/USDT Downward Momentum ?? Compound Today Analysis Hello Paradisers, Here's one to watch!
💎COMP faced a setback after reaching the Bullish OB (Order Block) Zone, subsequently testing the $45 supply region.
💎Notably, after touching this supply point, COMP experienced a sharp decline. It's likely that COMP will revisit the Bullish OB zone to fill the existing long wick.
💎Should the Bullish OB zone fail to hold and break, our eyes should be on the robust demand zone, where significant buying activity is anticipated.
💎My intuition suggests that if COMP reaches this strong demand zone, it might just be a liquidity sweep followed by a vigorous rally. I'd advise purchasing at the white line, but always with prudent money management.
COMP: Unraveling the DeFi AdventureCOMP is the native governance token of the Compound protocol, which is a decentralized lending platform built on the Ethereum blockchain. As a DeFi (Decentralized Finance) project, Compound allows users to lend and borrow cryptocurrencies by providing collateral. COMP token holders have the power to propose and vote on changes to the protocol, influencing its governance and development. Its uniqueness lies in its role as a governance token, enabling users to have a say in the direction of the platform. As of the latest data, COMP's market cap stands at approximately $2.5 billion, and it is ranked among the top 50 cryptocurrencies by market capitalization.
Where have we come from?
Downtrend and Key Resistance:
Since September 7, 2021, COMP has been experiencing a downtrend, marked by four unsuccessful attempts to break the key resistance at $530.15. This resistance level holds significant importance for the asset's future price action.
Major Support Formation:
On June 18, 2022, COMP found major support at $26.15, leading to a swift retracement back to $28.75, representing a 10.25% swing to the upside in a single trading day. This support zone altered COMP's direction and pushed its price near the resistance at $71.15, leading to a period of sideways movement before a temporary break of the previous support, resulting in a lower low.
Breakout of Downtrend:
Despite the lower low indicating a bearish narrative, the robustness of the previous support at $26.15 and $28.75 propelled COMP to skyrocket, breaking the established long-term downtrend.
What's Next?
Resistance Level and Areas of Interest (AOI):
Since breaking the downtrend, COMP has seen a 117% rise to the resistance level at $79.55, which has been an area of interest since early May 2022. Understanding these key areas provides insights into possible future price movements.
Key Levels to Watch:
Currently, COMP has yet to break and hold the key level at $71.15, as well as the further resistance at $79.55, indicating potential weakening of the bullish sentiment. A break and sustained hold of the $71.15 level is crucial, as it plays a significant role in traders' psychology and valuations.
Where Do We Sit?
ROBO Advisor Sentiment:
ROBO advisors are bullish on major longer-term timeframes (weekly, daily, 3-hourly). However, they are showing signs of weakness on lower timeframes like the 45-minute and 15-minute intervals.
50-Day EMA:
The current 50-day Exponential Moving Average (EMA) is above $55, and it is plausible to expect a revisit of this level in the coming days or weeks.
Urgency for Upside Movement:
Although the majority of the chart and ROBO advisors indicate a bullish sentiment, action is required sooner or later if COMP is to continue moving upwards.
As with any investment decision, it is important to consider multiple factors, conduct thorough research, and manage risk effectively. Technical analysis offers valuable insights but does not guarantee future price movements.
Spotting Promising Signals for a COMPUSDT Rally💎The current long-term price action of #COMPUSDT presents an enticing opportunity. Taking a step back and examining the broader context, we can observe a compelling narrative. Following the formation of a double bottom pattern, there was a monumental breakout above the downtrend trendline in June. During this bullish surge, the price experienced an impressive 269% ascent, only to later retrace by approximately 80%.
💎What captures our attention is the intricate price action surrounding the 78.6% Fibonacci support level, where #COMPUSDT has meticulously crafted a double bottom formation. This pattern underscores the presence of robust demand, significantly enhancing the prospects of an impending upward movement.
💎Yet, at this juncture, #COMP has encountered a challenge in the form of a descending trendline, a barrier that must be surmounted for the price to sustain its upward trajectory. This is precisely what the MCP team eagerly anticipates—a breakout from this trendline that could trigger substantial price gains. In the event of such a breakout, we anticipate a remarkable price increase ranging from 65% to 80%. Notably, this aligns with the positions of two pivotal double Fibonacci resistance levels at $60.65 and $66.00.
💎Paradisers, the cryptocurrency market is heating up, and we are committed to keeping you informed about the most compelling opportunities that emerge daily. Stay tuned! 🚀📈
COMP shortCOMP broke trough off the lower boundary of ascending channel. Asset broke trough the support level. Bearish movement to support level at 38.15 is expected to happen.
$COMP will pump soon NYSE:COMP ANALYSIS
NYSE:COMP ’s price is losing 60% from ATH at 87%. Now NYSE:COMP is facing strong horizontal support at $39.6 and NYSE:COMP ’s volume is descending too. I want to see a bullish engulfing to confirm the bullish momentum. #RSI is suited to the neutral regions but #MACD crossover is losing the bearish momentum.
COMP Analysis: Potential Bullish Momentum and Price TargetsIn the current analysis of Compound (COMP), the cryptocurrency has found support at the monthly level around 36. Currently, there's evidence of a bullish divergence on the daily chart. If the ongoing bull run in Bitcoin (BTC) continues, we could anticipate COMP to reach the 54 zone as the first target. Further into the bullish scenario, with continued BTC strength, the 84 zone becomes a viable price target for COMP.
For more hit BOOST
COMPusdtCOMP long set up.
Disclaimer: The trading signals provided are for informational purposes only and should not be considered as financial advice. Trading in financial markets involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. The sender of these signals is not responsible for any losses incurred due to trading decisions based on the provided signals. Traders are advised to conduct their own research and seek advice from qualified financial professionals before making any trading decisions.
Interesting chart from COMPIm interesting with comp chart. Comp seems like defend support area. And it has higher high yesterday. Im open long with SL.
Swing playNot financial advice, take it lightly
Wbullishbreaker golden zone, mitigation.
Wbearishbreaker untested golden zone or at least 45% expected
Detailed Analysis on COMPUSDTI think the price is going to visit $31s.
Since the market is too shallow, I would like to see a confirmation on LTFs (like 15 minutes) before buying.
If a sharp selloff happens, $28 is another level I'm interested in.
If the price can pass blue line which is the EQ level of major swing low and high level, the price may also visit red box.
COMP BULLISHPrimed to move to the upside after days of consolidating in the channel. Anticipating price to break out of the channel
Will $COMP crash -90%?I will be monitoring this scenario and publish charts in smaller TF. Be sure to follow my tradingview for follow-up updates.
Thoughts on LPTUSDT and why im bearishOften times in crypto if you can find a fractal or structure repeating it can give you a hint into what is coming next for a different coin showing signs of the same pattern repeating. I dont have an official trade on this one i just think its something i find useful to trade with and thus i am sharing with you what i see
If you look at the comp/usdt pair you can see the INSANE amount of volume created on the 20D candle it is also more clear on the 40D timeframe you can see a this was a buyer capitulation and this is very useful information because Price will ALWAYS move the direction of least resistance! Therefore, a LARGE green candle with abnormally large amounts of volume is a good sign that the asset is overbought and will sell off and bearish engulf. The same can be said about a LARGE red candle with abnormally large amounts of sellers. This is known as buyer/seller capitulation and signals tops and bottoms of coins.
Using this information is helpful on ALL timeframes but the higher the timeframe the more likely a reversal is.
Using this information and looking at COMP/usdt we can see that comp opened up the 20D candle after the buyer capitulation and wicked up and took liquidity and flipped red and has since sold off for about 40% decrease in value.
Looking at LPT/USDT we have a similar situation with a buyer capitulation and the 20D candle has flipped green here to most likely make a wick and revert back down to 4-5$
This doesn't necessarily give us an entry or an exit to a trade but using this information you can keep a close eye on price action and knowing the overall trend helps alot. With how similar these two look i would either wait for LPT to flip red on the 20D candle OR short from 8.25-9.2
The buyer capitulation tells us that the 9.2 area is a heavily sold area and a critical resistance for bulls to flip if it were to see any more upside
Not only can you use this information to take a potential short trade setup on the coin but IF LPT were to get ABOVE the 9.2 resistance and close on a higher time frame (Preferably the daily candle) then you could actually enter a long trade with a stop a little under 9$ and find targets above.
For me personally, I have found that using Volume is the most effective strategy when determining a trend and for me it has given the best results but obviously the more things you can find for confluence the better. Hope this is helpful to someone and dont be afraid to comment/dm me if you have more questions :)
-TraderMDJ
Comp Buy Trade. Here is My Study On Comp.
Welcome to my channel! Here you'll find daily technical analysis ofthe latest trends in the crypto market. From Bitcoin to altcoins, I'lIl be sharing my insights and predictions to help you make informed decisions
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This Is Not A Finacial Advise
COMP Possible Playout ChartThe movement of Compound presents an interesting scenario, as there are indications of a potential bounce and a move towards its resistance area at $46.25. Currently, Comp is being traded at $42.72. If the target increase from its current price is achieved, it could potentially result in a profit of 8.36% for this week. Additionally, Compound is actively expanding its presence on the BASE blockchain, which is owned by Coinbase. In the month of August, the development and integration of Compound into the BASE network have offered an appealing initial APY. However, it's worth noting that Compound has undergone a correction of more than 40% this month, leading to a relatively lower price and an increased risk-to-reward ratio.
Comp, singing flat?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better!
Giving off some looks here for an Elliott Wave flat pattern in motion.
Not the most ideal interpretation, tbh, but if certain parameters play out, confidence will be boosted.
$45 is the nearest area of interest and it is rejecting.
This would be the paths I will be looking to play out, and play if printed.
Cheers.
COMP/USDT Can we see further fall? Hey traders 👋
COMP coin is next on our watchlist. We are looking for coin to show some furthermore weakness on current support zone. We are looking for natural 7% downfall here but from there we see a good potential for a breakdown and a crossover of RSI lines which would lead to more serious fall. Keep your eyes opened!
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Yours Sincerely,
Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
