COMP: Bullish Breakout Confirmed! Keep an Eye on Retest Levels

πŸ’Ž COMP has recently broken out of the resistive trendline and the neckline of an inverse head and shoulders pattern, while also displaying signs of CHoCH and BOS, indicating a bullish market structure and increasing the probability of a bullish market.

πŸ’Ž If COMPUSDT undergoes a proper retest and begins to exhibit bullish candlestick patterns in that area, it would signal a potential bullish movement towards the next resistance zone. However, if the price experiences a pullback accompanied by significant red candles, it would be advisable to wait for bullish OB (Order Block) levels, as these could serve as areas of support and potential bounce opportunities.

πŸ’Ž In the event that COMP breaks down below the bullish OB level as well, it would be prudent to avoid trading it in that scenario and wait for clearer price action signals to emerge.

Do you Want to start trading like a PRO?

Follow a team of traders with 10+ years of experience?


πŸŽ–οΈOr Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals πŸ‘‰

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.