Potential Mega Phone Setup COMP/USDT
Looks like its close to time again?! Got your bag yet? Looks like it could be a easy 50% or even 74% in the next leg up. That's if this megaphone holds true.
There is some major VCs behind this one like Bain Capital, Andreessen Horowitz, and Polychain.
I do believe this is the final step down before the break out commences. It does look like we have completed wave E in the falling wedge pattern in yellow trend lines.
The RSI on the 4hr chart is @ 36, freshly bouncing out of oversold territory near 26. 30 and below is considered oversold.
A TD 9 was also dropped on the large candle down to where we are now on, July 13 2020 @ 16:00 on 4hr and a few other time frames.
The MACD in the 4hr is in bearish territory but we got to remember the MACD is a lagging indicator. On that note, it does look ready for a possible bullish cross and keep in mind I am predicting the break out to happen. It also has lots of room for a break out to take place.
Remember there is a decent chance that we may have a rejection @ $220 will have to watch that blue price line closely!
This would make a good accumulation pattern. I do believe it has a pretty good chance that this scenario may playing out. What do you think? Leave your thoughts and comments below. Please drop me a like!
Reminder this is just speculation, just like all trading not financial advice! Set a stop loss!
Looks like its close to time again?! Got your bag yet? Looks like it could be a easy 50% or even 74% in the next leg up. That's if this megaphone holds true.
There is some major VCs behind this one like Bain Capital, Andreessen Horowitz, and Polychain.
I do believe this is the final step down before the break out commences. It does look like we have completed wave E in the falling wedge pattern in yellow trend lines.
The RSI on the 4hr chart is @ 36, freshly bouncing out of oversold territory near 26. 30 and below is considered oversold.
A TD 9 was also dropped on the large candle down to where we are now on, July 13 2020 @ 16:00 on 4hr and a few other time frames.
The MACD in the 4hr is in bearish territory but we got to remember the MACD is a lagging indicator. On that note, it does look ready for a possible bullish cross and keep in mind I am predicting the break out to happen. It also has lots of room for a break out to take place.
Remember there is a decent chance that we may have a rejection @ $220 will have to watch that blue price line closely!
This would make a good accumulation pattern. I do believe it has a pretty good chance that this scenario may playing out. What do you think? Leave your thoughts and comments below. Please drop me a like!
Reminder this is just speculation, just like all trading not financial advice! Set a stop loss!
Note
Here is a look in the 4hr with the fibNote
Honestly, i would think a little tweek in the legs would work a little better like this.Looking like we could be REAL close to breakout of wedge time.
Note
Here is a fresh look at the new update. Break out failed yesterday. The bull are gaining more steam! Note
COMP is looking likely to retrace down to $150 range. This would be a good area to load up! Pic belowNote
Note
COMP could be going to breakout or maybe just a retest. 
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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.
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.