Compound followed Bitcoin and the rest of the Crypto-market in the recent panic crash and resumed its correction. This led to a wick low yesterday of 35.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong correction, the RSI went oversold on the daily yet the trading volume is relatively low. What I am trying to get at now is that this can very well be the correction low.
If we were ready to see a rise before, imagine now after this major flush.
The stronger the drop, the stronger the recovery that follows.
Technically speaking, Compound continues 100% bullish based on the fact that it trades within a higher low.
There can be some sideways before the next jump or more likely a fast resumption since the drop was caused by whale selling rather than retail.
✔️ There will be many opportunities now.
✔️ Each chart must be treated separately.
✔️ Patience is key.
Thanks a lot for your support.
Namaste.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong correction, the RSI went oversold on the daily yet the trading volume is relatively low. What I am trying to get at now is that this can very well be the correction low.
If we were ready to see a rise before, imagine now after this major flush.
The stronger the drop, the stronger the recovery that follows.
Technically speaking, Compound continues 100% bullish based on the fact that it trades within a higher low.
There can be some sideways before the next jump or more likely a fast resumption since the drop was caused by whale selling rather than retail.
✔️ There will be many opportunities now.
✔️ Each chart must be treated separately.
✔️ Patience is key.
Thanks a lot for your support.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.