CompoundShort
$COMP heading for a capitulation low of $11-16?
I hate being bearish here, but the charts show that alts are going much lower. Comp has a pretty clear trend here.
I think it's likely that price goes back up and retests $68 here as that's the level price broke through on the way down. If that level can't break, it sets up a final leg down to the lower supports between $11-16.
If it gets down to that level, it's a great long term buy as I don't think price will see that level again.
Bearish invalidation would be a close over $68.
I think it's likely that price goes back up and retests $68 here as that's the level price broke through on the way down. If that level can't break, it sets up a final leg down to the lower supports between $11-16.
If it gets down to that level, it's a great long term buy as I don't think price will see that level again.
Bearish invalidation would be a close over $68.
Note
Here's the bounce up. Can also go to $73 or so and reject there.Note
Welp, if it can't make it over $52.95 and flip it as resistance, we're headed straight to that bottom.
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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.