$COMP is cooling off — not breaking down. After a strong push toward $20.40, price met supply and pulled back in a controlled manner, slipping into a well-defined demand pocket around $19.70–$19.80. This area previously served as the launchpad for the impulsive move higher, which makes the current reaction important.$COMP
On the 1H chart, liquidity below $20.00 has already been cleared, often a prerequisite before continuation. Sellers failed to extend downside, suggesting the move is more of a reset in momentum than a shift in trend. As long as structure holds above $19.50, buyers remain in a position to defend.
Speculative Long Idea
Entry: 19.70 – 19.90
Targets: 20.30 → 20.90 → 21.60
Invalidation: 19.40
A strong reclaim of $20.30–20.40 with volume would confirm acceptance higher and open the path toward upper resistance. Losing the current base would likely lead to deeper consolidation before the next directional move.
Patience here matters — the reaction from this zone will define the next leg.
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