CompoundLong
COMP Inverse H&S Breakout
Compound looks to be another alt that is experiencing a neckline breakout from an inverse head and shoulders pattern.
It looks like a slight retracement is now occurring which has the potential to break down below the neckline still, however, assuming the trend continues, it has a bit of potential upward as indicated by the head to neckline length extended after the breakout (dashed blue line).
There is a similar breakout occurring against COMPBTC, so it looks like there is some potential to outpace BTC over the next few days as well if the breakout continues. I suppose we shall see soon if the breakout becomes more definitive in the next day(s) or so.
It looks like a slight retracement is now occurring which has the potential to break down below the neckline still, however, assuming the trend continues, it has a bit of potential upward as indicated by the head to neckline length extended after the breakout (dashed blue line).
There is a similar breakout occurring against COMPBTC, so it looks like there is some potential to outpace BTC over the next few days as well if the breakout continues. I suppose we shall see soon if the breakout becomes more definitive in the next day(s) or so.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.