Compound COMP Crypto Price Prediction News Today | Elliott Wave Technical Analysis

Welcome to our latest COMP Compound technical analysis video, where we combine the power of Elliott Wave Theory with traditional analysis techniques! 📈 In this episode, we take a comprehensive look at COMP Compound’s recent price movements, chart patterns, key indicators, and the Elliott Wave Theory to provide you with a holistic view of the cryptocurrency market.

🔍 Here’s what you can expect in this video:
📊 Technical Analysis: We’ll break down COMP Compound’s recent price action, analyze key support and resistance levels, and identify potential trend reversals using both Elliott Wave Theory and traditional methods.
🌊 Elliott Wave Analysis: Our experts will delve into the fascinating world of Elliott Wave Theory, discussing wave counts, corrective and impulsive waves, and how this theory can provide insights into COMP Compound’s future price movements.
📈 Price Predictions: Gain valuable insights as we combine technical analysis and Elliott Wave Theory to make informed predictions about COMP Compound’s potential short-term and long-term price trajectories.
💡 Trading Strategies: Discover effective trading strategies and risk management techniques that align with Elliott Wave patterns to enhance your cryptocurrency trading skills.
📉 Chart Patterns: Learn how to identify common chart patterns in conjunction with Elliott Wave Theory, such as diagonal triangles, zigzags, and flats, to make more accurate trading decisions.
📣 Market News: Stay up-to-date with the latest crypto news and events that could impact COMP Compound’s price.

Whether you’re a seasoned trader or just getting started in the crypto world, this video offers a comprehensive approach to analyzing COMP Compound’s price movements. Our goal is to empower you with the knowledge and tools needed to navigate the dynamic cryptocurrency market effectively.

Don’t forget to hit the like button if you find this video insightful, and subscribe to our channel for more in-depth analyses and trading tips. Join our vibrant community of crypto enthusiasts!

👉 Disclaimer: This video is for informational purposes only and should not be considered as financial advice. Always conduct thorough research and consult with a professional before making any investment decisions, especially in the cryptocurrency market.

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Hello and welcome to caching waves this your Elliot wave update on compound I’ve gotten a lot of requests on this one the last couple days so I wanted to give you my updates on that now real quick on The Daily for the larger view believe we

Started in the middle of a correction we have an ABC up for our b-wave and five clean waves to the downside to complete our c-wave correction after that we had a five-wave impulse above previous resistance we’re now in the support area and we’re going to go down to the smaller time frames

Here as you can see we came a little bit deeper than ideal just past the 618 retracement there but we held above the 786 at which point I think the best labeling for this is a leading diagonal and then after that this whole area is a expanded

Flat now a couple of things to pay attention to here just wanted to show you I did try and count this as a leading diagonal when we made our last move up I was like maybe we just extended a little bit higher and our waves got

Bigger but the more I look at this the more I disagree with it uh labeling it this way the fact we came outside our boundary line and the fact that this looks like a flat a b c 3 35 and as per Elliot wave

Rules we can’t have a flat as a wave in a leading diagonal it has to be single double or triple zigzags and that just doesn’t fit unless you’re really stretching and this is your a b c which does not look correct to me so I’m going with this pattern we had single zigzag

Here had a double zigzag here and then a single angle zigzag here so it makes the most sense as a leading diagonal now it is possible that this could be counted as a wxy and we need to come further to the downside but based on this previous impulse I think the probabilities have

Us moving to the the upside after this resolves so knowing that where does that leave us um one thing you if you check my previous videos when we saw this three-wave pattern and we came up to this expanded uh flat area which is between the 1.23 6 and 1.618 as in

Validation we were anticipating this move this was our primary count you’re welcome to go back and check um the only issue was I was trading this as a running flat and I wanted to Pro protect this low and I said if I get stopped out it’s most likely an expanded

Flat but for trading purpos purposes didn’t make sense to hold on past that low so as as this goes I expect this to turn into five waves to the downside on the short term like so and I believe this is the wave one and two of a larger third wave to the

Upside so for trading purposes I haven’t really posted much about it because we’re kind of in no man’s land there’s no good trade setup um I was trying to squeeze how could this be a wxy and it is possible but same thing nothing Concrete in the count um so I’m anticipating five waves

To the downside here um I pulled from the bottom to the top of the wave 1 for my retracements which is between 4549 and 4273 would be the ideal area that’ be right between the 50 and the 61 eight I also let me go down to the

Hourly I also labeled out a five-wave impulse where we would expect that to be and that would be 4203 if this turns into five waves and you can see we’re on the fifth wave of our third wave still now we have come through the 1.618 but that does

Tend to happen when you get these liquidation events it is possible we don’t even break below this low for our third wave as a truncation then we come up for a fourth and we just like double triple bottom here so we have to keep that in

Mind um I’ve seen it before in a lot of sell-offs you see it in Bitcoin when there’s liquidation events it makes it makes it more frustrating to analyze um when you’re you’re dealing with those factors but that’s that’s kind of the way it is in crypto we have to deal with

The information we’re giving given and at this point I think this is the most ideal um way to count this um the way I was able to get this as a five wve again there it’s kind of ugly and there’s no ideal but if you go down to the 15 Minute we have a micro one two you can see here one two 3 4 I check there’s no overlap for and then an ending diagonal um there is the rule of alternation there where we had a short wave two and a more deep wave four and our ending diagonal looks good and then

This is an a b c as a flat and then we’re working on our five waves to the downside but it’s ugly like it’s it’s not pretty right um but going off the previous waves the most because we have a three three here the most sense is we do have five waves

Down so I’m not interested in a trade right now just because everything I explained to you there’s nothing clean about this count um but areas of interest for me where I will be taking a long pretty much 100% is in this area here and I would adjust these counts and consider it could

Be a y wave if we break Above This wave wave uh four invalidation here when we cross over with the one so I’ll just Mark that down that’s invalidation for the impulse reason being wave four cannot overlap The Wave 1 here unless we’re making some sort of diagonal and if we go to

Linear usually we take the 618 retracement of this wave which is right here as invalidation or at least switching probabilities to the upside but I’m giving a little more leeway just because of this liquidation here so I’m I’m going to set an alarm on here so I can re-evaluate this

Again if we overlap here because then I might might have to look at some other Alternatives um but until then expecting to grind down here over the next uh week or two and possibly just make uh double bottoms and where I would really switch probabilities is if we break this wave too

High I wish I had more for you on compound guys and keep in mind it did do exactly what we wanted in previous videos pretty much exactly what we wanted the issue is uh the waves aren’t clean so we can’t really lean into anything at this time but good news is

When this finally does resolve we have targets way up here as long as this account stays intact all right guys so make sure to subscribe if you want updates for this um if you have any questions leave them in the comment section below but as of

Right now too tough of a account to try and lean into any sort of uh trade setup I am interested down in these areas once this uh resolves itself a little bit but I’m keeping a close eye on this uh pretty much every day even if you

Don’t see me posted I I’m just posting when it seems like a relevant time all right guys thanks for watching