Compound (COMP) - Bullish divergenceOn the above 5-day chart price action has corrected a massive 95% since the double sell signal back in May 2021. Now is an excellent moment to be long. Why?
1) A ‘incredible buy’ signal prints with 85% probability!
2) RSI resistance breakout.
3) Regular bullish divergence. 10 oscillators are currently printing bullish divergence over a 25 day period including MACD.
Is it possible price action falls further? Sure.
Is it probable? No no no. If you want to know what a sure thing looks like, this is as close as you’re going to get.
Good luck.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: 2 - 6 months
Targets: 1st $550 By September 2022, 2nd $5500 (Before end of Qrt 1 2023).
COMUSD trade ideas
COMPUSD (4H) Bearish reversalHi Traders
COMPUSD (4H Timeframe)
Waiting for the downward break of 42.83 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 50.50 would cancel the bearish scenario.
Trade details
Entry: 42.83
Stop loss: 50.50
Take profit 1: 38.11
Take profit 2: 30.44
Score: 7
Strategy: Bearish reversal
Compound (COMP) - Bullish divergenceOn the above 2-day price action has corrected over 90% since mid May 2021. Now is an excellent time to be bullish. Why?
1) A ‘incredible buy’ signal prints.
2) Regaular bullish divergence. Lots of it. Multiple oscillators are currently printing bullish divergence.
3) A dragonfly DOJI candle prints.
4) RSI resistance breakout.
5) On the 10-day chart (below) price action prints an impressive Dragonfly DOJI candle. This is rocket fuel for price action.
Is it possible price action falls further? For sure.
Is it probable? No.
1st target: $500
Good luck!
Ww
10-day chart
COMPUSD (4H) Bearish Wave We2Hi Traders
COMPUSD (4H Timeframe)
A high probability, entry signal to go SHORT will be given with the downward break of 63.00 after the market found resistance at 76.10. Only the upward break of 76.10 would cancel the bearish scenario
Trade details
Entry: 63.00
Stop loss: 76.10
Take profit 1: 36.70
Take profit 2: 20.85
Score: 7
Strategy: Bearish Wave We2
COMP to $360 Soon. After the long wait, it is almost time. COMP first target will be $360.
A bit more patience is required. Do not try to time the bottem. Take positions, relax and take profit and first target and let the rest ride along. After $360 it has still more upside potential.
All eyes on BTC for now, but the second wave will favor ALTS more than BTC in terms of percentages.
Good luck all.
LONG COMP @ 128-129 Compound is a protocol on the Ethereum blockchain that establishes money markets. Money markets are pools of assets with algorithmically derived interest rates. Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate. Compound is now available on DeFi Swap. Users can swap Compound, be Compound Liquidity Providers to earn fees and boost their yield when staking.
what a deal DeFi is if you pick the rite spreadDeFi is the last liquidity hold out as the water recedes the defi pools or puddles remain. it makes you wonder where this market would be without the decentralized Liquidity Lakes _shinning becons of money added by you and me in = trading pairs to form people powered DEX's like UNIswap or the bast@rd cuz SUSHIswap dont forget synthetics or extra deep liquidity like SNX or deep market cap gem LINA and now we have cheep swap n mint NFTs_ little guy empowering "layer 2 dex's like LoopRing LRC ZKS and Uniswap's Version 3 or V3 with optimisim.io leading the tech behind the scenes.
If i had to pick 5 to 10 ALTS not counting realavant blockchains snagging liquidity and brainpower (programmers) _(( ETH BSC ADA DOT ALGO NEAR FANTOM SOL MATIC AVAX even centralized exchanges/DEX's CRO CHSB VGX FTX token etc)
think utility coolness fun or swapping then money on and off and just as, if not more importantly_ money etc moving cross chain
YFI CRV COMP AAVE LEND MKR SAND ENJ MANA SUSHI UNI SNX l2_dex's COSMOS
ZKS UNI LRC
always miss projects and new ones out everyday...
$COMP Bearish Shark ReturnCOMP still has some work to do here but its starting to diverge on both the RSI and the MACD. Bullishly engulfing here as well with a possible partial decline. This is the 3D but i do like this time frame for reducing a little bit of the noise from the daily, and a little faster than the weekly. You really want to see COMP back above 180, which would open the door to about 100% upside to the next major resistance.
The 1.13 rejection on AC could imply we are going to see an .886 return to complete the Bearish shark here, but even a reasonable retrace to the 50% is about 3X from here.
COMPs also been added to Robinhood and its safe to say that will lead to a lot more volume and eventually some significantly higher prices.
COMPUSD forming a long-term market bottomCompound (COMPUSD) has been trading within a Falling Wedge since the May 12 2021 High. Since February however, it has been trading within a Channel Up, which is the market attempt to form a bottom.
In order for this to be confirmed as a bottom though, the price needs to break above the 1D MA200 (orange trend-line). If it does, it will be the first time to do so since September 07 2021. In the meantime, the 1D MA50 has been supporting since March 27.
Another bullish structure pointing to a break-out is the fact that the 1D RSI has been on Higher Lows since January 22.
A safe trade would be to buy once the 1D MA200 breaks. The higher Fibonacci levels can be used as rough targets: 0.618 at 380.00 and 0.786 at 535.00
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Comp Testing a Break-Hook-Go off Neckline Looking for MadnessThis is a bit of a late an dangerous entry but Comp has been so strong lately and is at a lvl where one could strategize an entry with a stop loss though not the best by any means i do still think there's a decent chance of it playing out so i think it's worth pointing out.