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COMP / TetherUS PERPETUAL CONTRACT

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COMPUSDT.P trade ideas

COMP/USDT { COMPOUND } - BULLISH SETUPANALYSIS 🔎 - COMP/USDT is printing an ascending triangle pattern. - This is a bullish build up pattern. - There's a breakout potential. BUY ENTRY ⬆️ - Market entry: current market price. - Stop limit entry: breakout above the ascending triangle's horizontal resistance (@530.98) - Limit entry: test of the ascending triangle's inclined support. TARGETS 🎯 - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the ascending triangle's inclined support.
Long
by Chibuike_Odoh
COMP// Best Entry Point$COMP has a unique pattern forming, usually most alts have the same or very similar patterns, however I dont recall any I've charted recently that look like this. I like to make assumptions that if alts are sitting on key support levels, then Ideally BTC wont fall through - pulling everything else with it. Most times, when aligned with other variables this ideology works. What Im seeing on $COMP is a possible rising wedge or ACTUALLY, scratch what I was about to say. Just glanced at the weekly chart, and this is simply price breaking weekly resistance and retesting, however it shows another perspective on the daily. Both options on the arrows are still viable in the short term though. I will include the weekly chart below. Let me hear your thoughts.
by N0ST0PL0SS
Compound next price targetAfter correcting above the trendline 525. Price will first either either correct to 600usd. If this happens several possibilities will unfold. 1st a 3-wave pattern triangle might form to quickly give d market a push above 600, then straight way to next target. 2nd, if by chance it fails due insufficient liquidity, might descend to form an ascending channel of 3-5wave pattern, a rectangle of which a breakout will terminate the pattern to move to target. Lastly price moves so fast to target, it's gonna need a lot of bullish pressure to keep it above target of which if d buy orders keep on limiting will result in a mini crash to complete d correction it suppose to have done at 525. This will bring us to the beginning of a new market pattern of descending triangle between target and breakout of which may be continuous or discontinued by a divergence leading to another Elliot wave case event. In summary, a breakout candle is okay to which a bare correction will be needed to satisfy Elliot wave be heading to target. A slight correction is better which will move price to target and leading higher price target.
Long
by profit_hunter259