For a move higher a few barriers are to be taken out first:
- EMA50 (0.00000217) is now working as resistance. If this level can be broken, we can expect COSBTC to move higher. This is marked on the chart with a magenta line.
- We can see the above-average on today's candle.
- and above the neutral line ( ).
- Short-term retrace complete after COSBTC hit 0.00000194 or the 0.786 fib. retracement level from the last wave.
- The light blue space is where additional consolidation can happen. If COSBTC does not move above resistance and needs more strength, it is likely to go sideways and move within the blue space.
- Closing above 0.00000219 clears strong resistance and signals an upcoming upside move.
- For support, we have the blue dashed lines and the red dashed lines.
Multiple scenarios are drawn on the chart.
COSBTC is now .
Thanks a lot for reading.
THIS IS NOT FINANCIAL ADVICE.
I hope so like the idea in your last comment