COMP/USDT has shown volatile movement during April.
The chart pattern can be thought as ascending wedge which is a bearish pattern,
but I bet this is inverse head and shoulder pattern, which is a bullish pattern.
1) The price is above the resistance line, and the price is staying above the line.
2) Whenever the price touched neckline, (red dotted line) There was volume increase,
which confirms that the resistance line is very important in the pattern.
3) MACD (4h) made golden cross, which means that it will be bullish in short term,
and also means that the price is staying at the stable price.
4) There is one more "shoulder" part, which was shown in 27 Apr '21. It is extended shoulder part
because of BTC crash in 27 Apr '21. It could not complete the pattern in 27 Apr '21.
5) Stoch RSI is also showing that the price can still go up further, which also confirms that the movement is still bullish.
Therefore I think COMP/USDT will go further.
Target point is shown in the chart, in green numbers(Fibo levels)
Trade at your own risk.
XOXO.
The chart pattern can be thought as ascending wedge which is a bearish pattern,
but I bet this is inverse head and shoulder pattern, which is a bullish pattern.
1) The price is above the resistance line, and the price is staying above the line.
2) Whenever the price touched neckline, (red dotted line) There was volume increase,
which confirms that the resistance line is very important in the pattern.
3) MACD (4h) made golden cross, which means that it will be bullish in short term,
and also means that the price is staying at the stable price.
4) There is one more "shoulder" part, which was shown in 27 Apr '21. It is extended shoulder part
because of BTC crash in 27 Apr '21. It could not complete the pattern in 27 Apr '21.
5) Stoch RSI is also showing that the price can still go up further, which also confirms that the movement is still bullish.
Therefore I think COMP/USDT will go further.
Target point is shown in the chart, in green numbers(Fibo levels)
Trade at your own risk.
XOXO.
Trade closed: target reached:
The trade was successful.
The price touched 1.618 level of Fibbo lines. (about $ 900)
Initial price was about $ 700, so I guess we made about 40% profit.
Thank you for following my ideas.
The price touched 1.618 level of Fibbo lines. (about $ 900)
Initial price was about $ 700, so I guess we made about 40% profit.
Thank you for following my ideas.