COMP back to its originHello trading view community, should you like this analysis, please support with likes and comments. Thanks
It seems that COMP headed down to $80 support zone which is almost lowest support level of this cryptocurrency, as matter of fact it just returned to its origin.
If one takes a look at the dominant trend of the market for mid term, one may notice that the bearish trend may affect COMP in a way that it even slip even to lower price than its start, which is bad news and good news.
Bad news for COMP holders
Good news for new owners who ride on COMP on very lower prices.
This is a persoanl idea and I am not a financial adviser.
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Breaking of 140 USD will confirm the new cycle!Continued from our last COMP analysis.
We need to really keep an eye on this week as it is reaching the significant falling wedge trendline. The breaking of 140 USD level is going to be very crucial as it will confirm the ending of this long Bearish correction due to Elliotwave count! This will mark the new impulse of the new cycle with very good Risk to reward!.
Start of major Wave 3COMP has reached the 100% extension of the C wave as shown on the chart. I use Trend Based Fib. Extension tool to predict potential reversal areas.
As you can see we had a complex major ABC correction that lasted almost 10 months.
I am expecting a major wave 3 that could bring us to well above 1000usd. For this theory to have higher probability of happening, we need to break the 200usd soon. At that point I will become even more bullish.
My target for this trade will be 370usd and I will reassess at that point.
Follow for more updates.
Compound (COMP) Buy ZoneCompound (COMP) Buy Zone
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BIAS
Mid-Term : Neutral
Long-Term : Neutral
Risk : Medium
With around 50% correction from mid term high, Compound is getting ready for a bounce in a couple of weeks.
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$COMP/USDT LONG SETUP
Leverage : x3 - x5
Entry Price : 112.5 - 125
TP 1 : 129.5
TP 2 : 134.5
TP 3 : 145.5
TP 4 : 154
TP 5 : 162.5
TP 6 : 172.5
TP 7 : 183
TP 8 : 199
Stop Loss : 97.5
*Maximum 2% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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Where Will The Breakdown Of COMP Coin Price Ends?The week after week trend of the Compound is hinting towards a consolidated price and can soon see a new high .On coming to the day by day outline, the asset has broken down below the major parallel zone. Assuming the coin value falls then a bounceback near the level of $200 could be seen. The stockpile zone of the coin cost breakdown is hinting towards a downtrend. COMP/BTC pair may also move to a strong zone in the future.
COMP broke down ascending support #COMP/USDT
$COMP dropped to 1.618 fib level of BC swing up, as mentioned in previous weekly analysis.
there is a descending resistance line that if price success to break it out, it can pullback to ascending broken line and possible to drop more to 2 fib level of BC then increase to resistance zone between $300 and $400.
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Do you miss BITCOIN in 2010? ETHERIUM in 2020? Don't worry!!! Here it comes again.
Many of alt coins DOWN! Take your opportunities! COMP is only one EXAMPLE!
A T T E N T I O N ! Attention please for these coins;
EGLD
DYDX
AAVE
FIL
GALA
HNT
ICP
KSM
OCEAN
NWC
QTUM
SNX
SUSHI
THETA
YFII
ZIL
I'm not a finance adviser or mentor, I show you what I brought and hopes hold for 2-3 years!
Today is 2022 January 24. Most of alt coin markets show bottom of bearish trend and I HOPES END OF ''2022 MARCH'' Every markets takes next bull run!
Lets see one of example:
Compound (COMP)
* After 2020 December 02 price comes again to 122.3USDT
* After 2021 May 12 (Until NOW) its BEARISH market
- Days 252
- Market down percentage (86.24%)
* Best for long time holders!