✴️ Compound Up Close (Correction Ends, Bulls Prepare Up)

15 ago 2023

Up close, Compound is looking really good when it comes to the end of the corrective phase that started mid-July, let's dive into this chart.

COMPUSDT 4H TF

A low happened 9-July and all action is happening above this level, giving us a strong signal of strength.

The current price trades above 0.5 Fib. retracement which was tested twice and holds.

Finally, volume dropped massively after 7-Aug, telling us the correction lost strength.

After going sideways a few days, COMPUSDT is now moving above EMA50 with EMA21/10 already behind it and the indicators going bullish. MACD above zero and RSI above 57.

All these signals are pointing to the correction reaching its end.
Stronger support available lower and above $62 the bulls become really strong on this timeframe.

✔️ Once COMPUSDT moves and closes above this level, we can expect a new long-term higher high.

Let me know in the comments if there are any Altcoins you want me to look at, meanwhile I shall update the ones moving strong.

Namaste.