COMP-USDTGreetings,
COMP is currently at #9 on the DEFI list. This coin I trade for a long time, but unlike other instruments DEFI (SUSHI, 1INCH, ZRX, YFI, MKR, etc. links will be found below), did not make trading ideas, it's time to correct.
On the daily chart we can see that the price works out a concave bottom with a target of +/- $800
On the 4-hour chart, an upward triangle is forming (lows are rising and the upper shelf is resistance level 530-560$, similar situation as in bitcoin before 50 k$
Also possible is the formation of an ascending wedge after the breakdown of the triangle, and its further break upwards. A breakout potential of the triangle is 50% from the upper boundary, which will also take the price to $800.
If the support of the trending triangle does not hold the price, the next area of interest in my opinion is where the drop will be repurchased at 340-360$.
To bitcoin, the price went under the trendline, which is not good, and a falling wedge has formed at the moment.
Daily chart
4 hour chart
Always use a stop loss, and do not use a leverage greater than x3.
A trader should always have tomorrow.
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