Trade Alert - Take Profits Comp
#compound #comp #compusd #altcoins
Traders,
With Bitcoin reaching its target of 35k (see yesterday’s post) as well as nearly reaching my price prediction for the end of the year (37k), and with almost all crypto reading overbought on the RSI, including COMP, I have decided to sell and sit on the sidelines until this market cools down a bit. Normally, I would simply take half and let the rest ride, which is maybe what I should have done here, but I accidentally sold 100 percent and because I have been busy with additional projects lately, I have decided to hold off on re-entry until we cool down a bit. In addition to COMP nearing overbought territory on the RSI, you can see that price action looks to be forming a double-top. There will almost certainly be enough resistance here to find a better entry price going forward.
Best,
Stew
