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COMPUSDT

COMP: Bullish Breakout Confirmed! Keep an Eye on Retest Levels💎 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. 💎 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. 💎 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.
Long
by MyCryptoParadise_Nathan
COMP/USDT: Bearish Divergence , Potential Downside to 50 ?Title: COMP/USDT Technical Analysis: Bearish Divergence Signals Potential Downside to 45-50 Levels In this technical analysis, we will examine the price action of COMP/USDT, focusing on critical resistance and support levels. Analysis: 1. Resistance Area - 80-86: The COMP/USDT pair has encountered strong selling pressure in the price range of 80-86. Repeated attempts to breach this zone have failed, indicating the presence of significant resistance. Traders should exercise caution during this range as a sustained breakout above 86 is necessary to establish a bullish trend. 2. Anticipated Price Decline - 45-50: Considering the prevailing resistance, a bearish scenario is likely. We expect the price to undergo a corrective phase, potentially leading to a decline towards the support range of 45-50. Traders looking to capitalize on short-term bearish opportunities may find potential profits within this price region. 3. RSI Bearish Divergence: The Relative Strength Index (RSI) is showing a bearish divergence, which further strengthens the case for a potential downside move. This divergence occurs when the price reaches higher highs while the RSI forms lower highs, signaling a loss of buying momentum and a possible trend reversal. 4. Trading in Distribution Zone - Bag-Buying Opportunity: The current distribution zone indicates a market phase where sellers are dominant. However, this zone also presents an opportunity for strategic buyers. For investors seeking to "buy the dip" and accumulate the asset for the long term, the price levels around 35-30 offer a potential "bag-buying" opportunity. Please note that trading involves risks, and it is essential to conduct thorough research and consider multiple indicators before making any trading decisions. Always use proper risk management strategies to protect your capital.
Short
by Un_trade
💡Don't miss the great buy opportunity in COMPUSD @compoundfinaTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (307). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . COMPUSD is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 65. Take Profits: TP1= @ 370 TP2= @ 410 TP3= @ 460 TP4= @ 539 TP5= @ 617 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
5