COMPUSDt Pullback?the price is testing the daily dynamic support at 46$ area where the price has a key level. Th market has a big liquidity on 34$ area
How to approach it?
The price could have a pullback until 0.618 - 0.786 Fibonacci Level, so According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ black structure -> <= 1h structure.
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Follow the Shrimp 🦐
COMPUST trade ideas
COMP no positive signals but still in trendBINANCE:COMPUSDT
Locally no signals to buy or sell for COMP but for middle term if you looking for next few month COMP can pump over 100%
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Possible Targets and explanation idea
➡️This fib still relevant since local top in April
➡️Traded under fundamental price and appeared Strong Buy signal in June by "Trade ON" indicator
➡️4 October appeared signal to Buy on Direction indicator. Strong Signal
➡️Now if market crash again buy line for Comp at 35.85 will be good enter point
➡️For local trades 71$ is good time to take profit on "take profit line"
➡️Middle term target is correction by this fib to 128$ (0.618 fib level)
➡️Globally with market supply of COMP I can expect price higher then 500 again
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COMP | Seems like Ready to FLY..!!
#COMP Descending Channel Formation in Higher timeframe Chart..!!
Major Trendline Resistance getting Weaker & Buying Volume Coming in, Expecting Breakout.
In Case of Upside Breakout, Expecting 2-3x Bullish Rally in the Midterm..
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COMP long @ 49.00 10x leverageCOMP is consolidating heavily on lower time charts. I am opening a scalp long. I may add onto this position as time goes on.
Momentum indicators, MACD and TSI are signaling a consolidation of price action on the 30m.
We're within our Keltner Channel so we have support beneath us.
Lower time charts are signaling a small move up before our macro move down.
#COMPUSDT 1DAY Chart Trade setup: Trading in a Sideways Channel ($50-$70). Swing trader: can trade the channel (Enter near $50 support and Exit near $70 resistance).. (set a price alert). On August 30, Compound released version 3, which is a major upgrade to its lending DeFi protocol.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).
OBV (On Balance Volume): is declining, indicating that volume on Up days is lower than volume on Down days. Hence, demand (buyers) is below supply (sellers).
Support and Resistance: Nearest Support Zone is $50, then $30. The nearest Resistance Zone is $70, then $100.
COMPUSDT is inside a massive descending channelThe price is creating a descending channel inside a main ascending channel on the daily timeframe.
Now the price is testing an important support at 53$
How to approach it?
IF the price is going to have a breakout and retest the current resistance as new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ black structure -> <= 1h structure.
–––––
Follow the Shrimp 🦐