✴️ Compound Likely To Recover (Resume Growing)

Aug 7, 2023

The daily chart looks crappy and it is hard to predict when a correction will end but the 4H chart is starting to show some early recovery signals.

Compounds (COMPUSDT)

We have 5 signals that are pointing towards and up-move.
Remember, if this one moves everything else does the same and many are already breaking bullish.

1) Higher lows. This can be seen easily on the chart so it needs no explanation.

2) High volume on the last session, several times above the average.

3) Double bullish divergence. With the MACD and RSI.

4) Bullish hammer and Doji. Both can work as reversal signal, the Doji with high volume giving strength to the hammer.

5) Altcoins market continues with a bullish bias.

The hammer is invalidated on a 4h close below $54.
The chart in general can change but as it looks now, the bulls are waking up.

Namaste.

Aug 8, 2023

Comment

Volume is coming in while the RSI hit oversold, 1H, and is now recovering.
Bullish bias strengthen.