COMP / COMPUSDT super bullishHey everyone
I am super bullish on this altcoin for multiple reasons.
1: charts/TA
Beautiful double bottom and ATL retest
Red line can be broken here with a breakout
Blue lines seem to be the general idea for now
Combined with low RSI and volume profile.. this is a gem.
2: fundamentals
70% supply released. Deflationary coin.
Beautiful Defi coin, backed by big investors and whales
Currently ranked at #92. Too low for the fundamentals in my opinion. Comp deserves atleast #60. Meaning huge inflow imo.
3: longer term idea is $1000 to $3500 because of strong fundmentals. Considering all cryptocurrencies going up and an altcoin run.
Shortterm is already x4 as you can see.
4: Comp hasn't seen any pumps last weeks. There is a good chance it will be "it's turn" soon. Like for example on Waves atm.
Which means a huge opportunity when we buy today. Really a longterm coin this one.
COMP / TetherUS PERPETUAL CONTRACT
48.28USDTR
+0.14+0.29%
As of today at 05:13 GMT
USDT
No trades
COMPUSDT.P trade ideas
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 $80 support zone which is almost lowest support level of this cryptocurrency, as matter of fact it just returned to its origin.
If one takes a look at the dominant trend of the market for mid term, one may notice that the bearish trend may affect COMP in a way that it even slip even to lower price than its start, which is bad news and good news.
Bad news for COMP holders
Good news for new owners who ride on COMP on very lower prices.
This is a persoanl idea and I am not a financial adviser.
Breaking of 140 USD will confirm the new cycle!Continued from our last COMP analysis.
We need to really keep an eye on this week as it is reaching the significant falling wedge trendline. The breaking of 140 USD level is going to be very crucial as it will confirm the ending of this long Bearish correction due to Elliotwave count! This will mark the new impulse of the new cycle with very good Risk to reward!.
Start of major Wave 3COMP has reached the 100% extension of the C wave as shown on the chart. I use Trend Based Fib. Extension tool to predict potential reversal areas.
As you can see we had a complex major ABC correction that lasted almost 10 months.
I am expecting a major wave 3 that could bring us to well above 1000usd. For this theory to have higher probability of happening, we need to break the 200usd soon. At that point I will become even more bullish.
My target for this trade will be 370usd and I will reassess at that point.
Follow for more updates.
Compound (COMP) Buy ZoneCompound (COMP) Buy Zone
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BIAS
Mid-Term : Neutral
Long-Term : Neutral
Risk : Medium
With around 50% correction from mid term high, Compound is getting ready for a bounce in a couple of weeks.
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$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.
