Compound. HTF channel bottom. NFA. DYOR
Afternoon, with bitcoin trending north it has given time for people to accumulate alts before they follow later on in Q4 when BTC takes a breather from taking out shorts.
Nice and simple chart here looking at the HTF. Compound is sitting nicely at the bottom of its channel which has been the launchpad for its runs in the pass. Has a nice support and resistance flip which is only invalidated if we lose 280, close below and then reject on the higher time frames, which I cant see happening personally but hey ho.
Pending fisher cross on the 3D below -2 has only happened 3 times, and when it does, they are explosive.
CMF holding above the zero line which indicates strength in the market.
This appears to be a good place to build a position if have not done so already or place buy orders on support at 281.
Initial targets are the 0.5 fib channel which was rejected at the rally at the start of July, will reassess position forthwith. If the .5 if flipped to support then we target the top of channel.
In no way Financial advice and always do your own research.
Nice and simple chart here looking at the HTF. Compound is sitting nicely at the bottom of its channel which has been the launchpad for its runs in the pass. Has a nice support and resistance flip which is only invalidated if we lose 280, close below and then reject on the higher time frames, which I cant see happening personally but hey ho.
Pending fisher cross on the 3D below -2 has only happened 3 times, and when it does, they are explosive.
CMF holding above the zero line which indicates strength in the market.
This appears to be a good place to build a position if have not done so already or place buy orders on support at 281.
Initial targets are the 0.5 fib channel which was rejected at the rally at the start of July, will reassess position forthwith. If the .5 if flipped to support then we target the top of channel.
In no way Financial advice and always do your own research.
Comment:
Nice push from bottom of channel.