COMPBULLUSD trade ideas
Comp potential is thereOne of the few Alts that pumped today. Failed to breakout today from the rising channel. Bearish div on the RSI points to a pullback. If it can bounce of the midline of the channel it will form an inverse HnS. Breakout target is 288, resistances at 272.
COMP/USD (Coinbase) Are we there yet???Compound’s decline is having a hard time making it past the $195 price point. This may be the entry point, though I would like to see it provide us with a little longer path to profit.
Compound expected to fallIt’s still gonna fall to close that gap between both yellow lines...then we can expect massive pump
Compound retraces then expected to shoot upwards A very simple chart, no complications....straight forward as shown!. Use stop losses if it breaks support, nonetheless, bullish overall
COMPvsUSD Breaks the heart lineCOMP broke above the Heart Line on the channel around 2AM CST
I mistook it for a previous level of resistance/support from it's crash
The ascending touches indicated that the sale wall was going to be breached, which it was, indicated by the green rockets.
Additional upside
Inverse Head and ShouldersOK, this one has a bit of ugliness to it, but it's clearly an Inverse Head and shoulders.
Letting it run.
Looking for break and successful retest of resistanceEnter trade on break and successful retest of resistance line
If trend line (pink) is broken. We re-test support.
If support is broken. We go lower
COMP/USDCOMP confirming the classic cup & handle pattern; measured move up to ~$363; would give it another day or two to confirm
not trading advice
tg
Long COMP/USDBullish on everything DeFi until $100,000 BTC
With ETH approaching new ATH's presumably by the end of this week, it won't be long before the real bull run begins. So far, hodlers and institutional money managers have led the charge, but true retail investment hasn't even begun to explode. When ETH passes into the $1,800 USD area, the real FOMO Market will begin. Things will be incredibly choppy but until BTC hits $100,000, no dip regardless of size should be considered anything but a correction, soon to be followed by an even greater continuation. Diversification is imperative as we head into the uncharted waters of securities regulations, however, I think it's humble to assume that at least one of the leading crypto DeFi exchange protocols will eventually find it's way into the client portfolios of institutional money managers. Watch for Uniswap (which is already registered security) and Compound, my top 2, as well as Balancer, and as much as I hate to say it HEX. For those of you who don't know Richard Heart's HEX Certificate of Deposit Token, it's definitely something worth checking out. As to the reliability of HEX and it's fixed contract distribution, stability would seem to go hand in hand, yet there have been rumors circulating throughout the duration of HEX's existence on Ethereum that a large portion of the ETH transformed into HEX goes straight to "Origin Address" that some skeptics consider belonging to Richard Heart. Rather it does or doesn't, price always seems to recover and with the influx of new retail investors on the horizon, I wouldn't be surprised one bit if HEX ends up taking off into the $1-$5 per token range within the next 2 or 3 years. MarketWatch has already declared that HEX was the best performing asset of 2020 and that was before BTC was at $33k. All that aside, Richards, "Trump-like" demeanor and occult like following has damnation written all over it. Overall, I'm bullish on everything in the top 100 except XRP. Sorry Ripple, you kinda screwed up.
Bullish Fundamentals When investing in crypto one must see all variables.
Compound has great foundation and chart
A16z founded - same as founders of Coinbase - bank the unbanked - defi - world finance solutions
- has registered with SEC
- has a reverse head and shoulders
- upward channel with lower highs
in my opinion bitcoin dominance has reached ATH and will soon reverse into a altcoin season like 2017 . Defi - and decenteralized applications will thrive in the new services based economy A.C ( after covid ). great hodl for the 4th industrial revolution.
- citizens in third world countries now have 30$ smart phones ( digital wallets )
- internet connections ( starlink ) + plus 5g / bitcoin as a new reserve asset = new world financial system .. which includes peer to peer payments with low transaction cost
( no intermediary ) . decentralized finance. blockchain every network.
national digital ID for voting integrity and trust + digital wallets and tracking transactions = #1 valuable thing ( Privacy )
COMP is a great buyCheckit out, we are at a huge support and I think this is exactly before some awesome movement upwards
Prepare your wallets, it's time!Following the parallel channel, bullish times are upon us. Buy the dip, price is about to get lit.
COMPUSD 1DOBV looks strong.
Support and resistances marked.
Need to see price action at next resistance.
Previous call:
Dumped and retraced to .382 Fib
