COMP shortCOMP broke trough off the lower boundary of ascending channel. Asset broke trough the support level. Bearish movement to support level at 38.15 is expected to happen.
COMPUSDT trade ideas
$COMP will pump soon NYSE:COMP ANALYSIS
NYSE:COMP ’s price is losing 60% from ATH at 87%. Now NYSE:COMP is facing strong horizontal support at $39.6 and NYSE:COMP ’s volume is descending too. I want to see a bullish engulfing to confirm the bullish momentum. #RSI is suited to the neutral regions but #MACD crossover is losing the bearish momentum.
COMP Analysis: Potential Bullish Momentum and Price TargetsIn the current analysis of Compound (COMP), the cryptocurrency has found support at the monthly level around 36. Currently, there's evidence of a bullish divergence on the daily chart. If the ongoing bull run in Bitcoin (BTC) continues, we could anticipate COMP to reach the 54 zone as the first target. Further into the bullish scenario, with continued BTC strength, the 84 zone becomes a viable price target for COMP.
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COMPusdtCOMP long set up.
Disclaimer: The trading signals provided are for informational purposes only and should not be considered as financial advice. Trading in financial markets involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. The sender of these signals is not responsible for any losses incurred due to trading decisions based on the provided signals. Traders are advised to conduct their own research and seek advice from qualified financial professionals before making any trading decisions.
Interesting chart from COMPIm interesting with comp chart. Comp seems like defend support area. And it has higher high yesterday. Im open long with SL.
Swing playNot financial advice, take it lightly
Wbullishbreaker golden zone, mitigation.
Wbearishbreaker untested golden zone or at least 45% expected
Detailed Analysis on COMPUSDTI think the price is going to visit $31s.
Since the market is too shallow, I would like to see a confirmation on LTFs (like 15 minutes) before buying.
If a sharp selloff happens, $28 is another level I'm interested in.
If the price can pass blue line which is the EQ level of major swing low and high level, the price may also visit red box.
COMP BULLISHPrimed to move to the upside after days of consolidating in the channel. Anticipating price to break out of the channel
Will $COMP crash -90%?I will be monitoring this scenario and publish charts in smaller TF. Be sure to follow my tradingview for follow-up updates.
Thoughts on LPTUSDT and why im bearishOften times in crypto if you can find a fractal or structure repeating it can give you a hint into what is coming next for a different coin showing signs of the same pattern repeating. I dont have an official trade on this one i just think its something i find useful to trade with and thus i am sharing with you what i see
If you look at the comp/usdt pair you can see the INSANE amount of volume created on the 20D candle it is also more clear on the 40D timeframe you can see a this was a buyer capitulation and this is very useful information because Price will ALWAYS move the direction of least resistance! Therefore, a LARGE green candle with abnormally large amounts of volume is a good sign that the asset is overbought and will sell off and bearish engulf. The same can be said about a LARGE red candle with abnormally large amounts of sellers. This is known as buyer/seller capitulation and signals tops and bottoms of coins.
Using this information is helpful on ALL timeframes but the higher the timeframe the more likely a reversal is.
Using this information and looking at COMP/usdt we can see that comp opened up the 20D candle after the buyer capitulation and wicked up and took liquidity and flipped red and has since sold off for about 40% decrease in value.
Looking at LPT/USDT we have a similar situation with a buyer capitulation and the 20D candle has flipped green here to most likely make a wick and revert back down to 4-5$
This doesn't necessarily give us an entry or an exit to a trade but using this information you can keep a close eye on price action and knowing the overall trend helps alot. With how similar these two look i would either wait for LPT to flip red on the 20D candle OR short from 8.25-9.2
The buyer capitulation tells us that the 9.2 area is a heavily sold area and a critical resistance for bulls to flip if it were to see any more upside
Not only can you use this information to take a potential short trade setup on the coin but IF LPT were to get ABOVE the 9.2 resistance and close on a higher time frame (Preferably the daily candle) then you could actually enter a long trade with a stop a little under 9$ and find targets above.
For me personally, I have found that using Volume is the most effective strategy when determining a trend and for me it has given the best results but obviously the more things you can find for confluence the better. Hope this is helpful to someone and dont be afraid to comment/dm me if you have more questions :)
-TraderMDJ
Comp Buy Trade. Here is My Study On Comp.
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COMP Possible Playout ChartThe movement of Compound presents an interesting scenario, as there are indications of a potential bounce and a move towards its resistance area at $46.25. Currently, Comp is being traded at $42.72. If the target increase from its current price is achieved, it could potentially result in a profit of 8.36% for this week. Additionally, Compound is actively expanding its presence on the BASE blockchain, which is owned by Coinbase. In the month of August, the development and integration of Compound into the BASE network have offered an appealing initial APY. However, it's worth noting that Compound has undergone a correction of more than 40% this month, leading to a relatively lower price and an increased risk-to-reward ratio.
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Giving off some looks here for an Elliott Wave flat pattern in motion.
Not the most ideal interpretation, tbh, but if certain parameters play out, confidence will be boosted.
$45 is the nearest area of interest and it is rejecting.
This would be the paths I will be looking to play out, and play if printed.
Cheers.
COMP/USDT Can we see further fall? Hey traders 👋
COMP coin is next on our watchlist. We are looking for coin to show some furthermore weakness on current support zone. We are looking for natural 7% downfall here but from there we see a good potential for a breakdown and a crossover of RSI lines which would lead to more serious fall. Keep your eyes opened!
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One of the most manipulated currencies on the market - COMP/USDTMy nemesis and many.
Buy until the selling gaps.
Otherwise it will become a shitcoin.
✴️ Compound Major 60% Correction, What Now? 100% Bullish!Compound followed Bitcoin and the rest of the Crypto-market in the recent panic crash and resumed its correction. This led to a wick low yesterday of 35.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong correction, the RSI went oversold on the daily yet the trading volume is relatively low. What I am trying to get at now is that this can very well be the correction low.
If we were ready to see a rise before, imagine now after this major flush.
The stronger the drop, the stronger the recovery that follows.
Technically speaking, Compound continues 100% bullish based on the fact that it trades within a higher low.
There can be some sideways before the next jump or more likely a fast resumption since the drop was caused by whale selling rather than retail.
✔️ There will be many opportunities now.
✔️ Each chart must be treated separately.
✔️ Patience is key.
Thanks a lot for your support.
Namaste.
$COMP, reversal ahead?NYSE:COMP
250%+ since June
Long position ended a few days ago based on the latest UCTS 2D Sell signal
Time for a reversal?
COMP: Oversold at SupportCompound (COMP) technical analysis:
Trade setup : After 3x-4x gains from June’s lows of $20-30 to highs of $85, traders have been taking profits (selling pressures). However, price is now oversold (RSI < 30) and near $47 support level (also 200-Day Moving Average), which could be a swing entry in Uptrend. Fibonacci levels are $62 (38%) and $47 (62%).
Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance : Nearest Support Zone is $47, then $36. The nearest Resistance Zone is $60 (previous support), then $70, and $86.
COMPUSDT-is Bearish Flag PatternCOMPUSDT is exhibiting a bearish Flag Pattren, with no divergence observed. The chart indicates the formation of a Bearish Flag Continuation Pattern. and break the sideways movement, the entry price is market price and the stop loss is placed above the resistance level.
Fair Value Gap around $48 | Good zone to buyChart 4H TF
Compound BINANCE:COMPUSDT is pulling back to resistance around $56
If price reject that level again, you know what need to do
Just wait reaction at that level and decide
✴️ Compound Up Close (Correction Ends, Bulls Prepare Up)Up close, Compound is looking really good when it comes to the end of the corrective phase that started mid-July, let's dive into this chart.
COMPUSDT 4H TF
A low happened 9-July and all action is happening above this level, giving us a strong signal of strength.
The current price trades above 0.5 Fib. retracement which was tested twice and holds.
Finally, volume dropped massively after 7-Aug, telling us the correction lost strength.
After going sideways a few days, COMPUSDT is now moving above EMA50 with EMA21/10 already behind it and the indicators going bullish. MACD above zero and RSI above 57.
All these signals are pointing to the correction reaching its end.
Stronger support available lower and above $62 the bulls become really strong on this timeframe.
✔️ Once COMPUSDT moves and closes above this level, we can expect a new long-term higher high.
Let me know in the comments if there are any Altcoins you want me to look at, meanwhile I shall update the ones moving strong.
Namaste.
COMP USDT PERPHello Trader BINANCE:COMPUSDT.P
looking at the previous chart there was a block order at 57.48
and the area rejected to go down. now still in the rhythm of the pattern
still strong to go up. long area at 55.21 or can be market price
from now on
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