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COMPUSDT

Potential Mega Phone Setup COMP/USDTPotential 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!
Long
by Jay3000
1
Compound (COMP) - July 3~6 (1h)Hello? Dear Traders, Nice to meet you. "Like" is a great power for me. By "following" you can always get new information quickly. Thank you for always supporting. -------------------------------------- It is necessary to check if you can receive support at 168 until 20:00 (UTC) on July 6. I think we need sideways to escape the downward trend line (2). If you fall at 168, you need to make sure you get support in sections 121-140. If you can get support in the 121~140 section until 18:00 (UTC) on July 9, I think there is a possibility that you will deviate from the downward trend line (2). After deviating from the downtrend line (2), we need to see if we can get support above the 196.74815479 point. Because the temporary rebound may not continue the upward trend and may fall even more, you must confirm your support. -------------------------------------------------- ---------------------- ** Check support, resistance and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee profit or loss on investment.
by readCrypto
6