$COMP heading for a capitulation low of $11-16?

Feb 5

I hate being bearish here, but the charts show that alts are going much lower. Comp has a pretty clear trend here.

I think it's likely that price goes back up and retests $68 here as that's the level price broke through on the way down. If that level can't break, it sets up a final leg down to the lower supports between $11-16.

If it gets down to that level, it's a great long term buy as I don't think price will see that level again.

Bearish invalidation would be a close over $68.

Feb 7

Note

Here's the bounce up. Can also go to $73 or so and reject there.

Feb 7

Note

Welp, if it can't make it over $52.95 and flip it as resistance, we're headed straight to that bottom.