COMP simple s/r flip, looks primed to breakout

6 thg 9, 2021

Compound is looking very bullish on the COMP/USD and COMP/BTC pair. There are 2 trendlines to break out of for COMP on the BTC pair which it is testing the first, and as we can see we have a smaller S/R flip with a higher low just under a current resistance. If we break this resistance, there is not much in the way for a ~25% move to the mid-upper 600s as shown in the chart. Long can be taken, with targets and stops as shown