relievedHawk1

COPEUSD - Imminent breakout to 4$?

FTX:COPEUSD   Cope / USD
November 4th, '21. 7:30PM UTC+1

Good evening traders! Is COPE in for yet another breakout? I thought I'd share those surprising similarities I found between the current price action and how COPE behaved in early August this year (to the left on the chart).

Recently COPEUSD has been following the (rough) red trend line in a very similar fashion to early August, and after losing momentum and consolidating (just like it's been doing the past few days), the price skyrocketted after touching down on the red trend line one last time (the current point we're at right now). Is COPEUSD going to follow the same pattern, and rise above 4$USD? Tell me! I'd wait for confirmation of an uptrend with the RSI and Heiken Ashi candles for example.

Good luck trading!
Comment: November 5th, 11PM UTC+1.
COPE ended up falling off the trend line, but I'm still long. Monitoring the price closely atm, but unless there is a big sell-off BELOW the lowest local dip at $2.5 of October 31st, it's all uphill from here on out (it'd be an idiotic decision to go short right now given the context!).
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