Potential Mega Phone Setup COMP/USDT
Updated
Potential Mega Phone Setup COMP/USDT
Looks like its close to time again?! Got your bag yet? Looks like it could be a easy 50% or even 74% in the next leg up. That's if this megaphone holds true.
There is some major VCs behind this one like Bain Capital, Andreessen Horowitz, and Polychain.
I do believe this is the final step down before the break out commences. It does look like we have completed wave E in the falling wedge pattern in yellow trend lines.
The RSI on the 4hr chart is @ 36, freshly bouncing out of oversold territory near 26. 30 and below is considered oversold.
A TD 9 was also dropped on the large candle down to where we are now on, July 13 2020 @ 16:00 on 4hr and a few other time frames.
The MACD in the 4hr is in bearish territory but we got to remember the MACD is a lagging indicator. On that note, it does look ready for a possible bullish cross and keep in mind I am predicting the break out to happen. It also has lots of room for a break out to take place.
Remember there is a decent chance that we may have a rejection @ $220 will have to watch that blue price line closely!
This would make a good accumulation pattern. I do believe it has a pretty good chance that this scenario may playing out. What do you think? Leave your thoughts and comments below. Please drop me a like!
Reminder this is just speculation, just like all trading not financial advice! Set a stop loss!
Looks like its close to time again?! Got your bag yet? Looks like it could be a easy 50% or even 74% in the next leg up. That's if this megaphone holds true.
There is some major VCs behind this one like Bain Capital, Andreessen Horowitz, and Polychain.
I do believe this is the final step down before the break out commences. It does look like we have completed wave E in the falling wedge pattern in yellow trend lines.
The RSI on the 4hr chart is @ 36, freshly bouncing out of oversold territory near 26. 30 and below is considered oversold.
A TD 9 was also dropped on the large candle down to where we are now on, July 13 2020 @ 16:00 on 4hr and a few other time frames.
The MACD in the 4hr is in bearish territory but we got to remember the MACD is a lagging indicator. On that note, it does look ready for a possible bullish cross and keep in mind I am predicting the break out to happen. It also has lots of room for a break out to take place.
Remember there is a decent chance that we may have a rejection @ $220 will have to watch that blue price line closely!
This would make a good accumulation pattern. I do believe it has a pretty good chance that this scenario may playing out. What do you think? Leave your thoughts and comments below. Please drop me a like!
Reminder this is just speculation, just like all trading not financial advice! Set a stop loss!
Note
Here is a look in the 4hr with the fibNote
Honestly, i would think a little tweek in the legs would work a little better like this.Looking like we could be REAL close to breakout of wedge time.
Note
Here is a fresh look at the new update. Break out failed yesterday. The bull are gaining more steam! Note
COMP is looking likely to retrace down to $150 range. This would be a good area to load up! Pic belowNote
Note
COMP could be going to breakout or maybe just a retest. 
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