COMP/USDT 16/02/21

Possible ascending triangle with 554-570 as resistance. If we don't break below the rising support any time soon, and manage to break through the 0.618 fib area, I think the likelihood of hitting the 554-570 area is far greater. At this point, breaking below the ascending support would mean a break below the 200 day EMA and in that case, we could head for 418-428 area. If we see a bounce off 418-428 I think we could continue trading within the 418-554 range for a little longer. If we break below the 418-428 area, 348 is the next strong support. 3 candles closing under rising support and the 200 EMA and a macd cross would massively increase the chances of falling to 418.5 support.

Support levels:
418.5

0 fib or 400 area

348 (pretty strong)

Resistance levels:
554

ATH

(this is just me logging my TA to see how often I am right vs wrong, do not take this seriously)

Nota

Broke below ascending triangle and heading toward 418 support

slekap

Penafian

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