Compound | Wishful Thinking? Simple Signals & 740% Potential

Sep 13

Here is another chart that is not ready, I mean, based on the signals.

If we go by our conventional approach, it is way too early, the signals are not strong enough. But knowing that they are there, the fact that we can see them, means that the potential for a reversal is already in the making.

Bearish volume has been declining since February 2021 for COMPBTC.

The main signal supporting the end of the bearish trend, would be the fact that the lowest point this pair hit in early August, also produced the smallest bear volume.

The weekly RSI bottomed in June 2023 and the MACD in November 2021, so we have a very strong double-bullish divergence, double referring to the fact that it is happening with two oscillators.

These divergences are really strong, one is more than a year long and the other almost three years old. Divergences anticipate trend reversals.

Couple these signals with marketwide action and the market cycle, and we have a case for the bullish side.

Compound is ready to grow against BTC.

Namaste.