AlanSantana

Contentos Breaks Above EMA10 | Can Do 30%+ Easy

BINANCE:COSBTC   Contentos / Bitcoin
Contentos ( COSBTC ) just moved above EMA10 on Binance and is showing signals that it can move higher.

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 volume on today's candle.

  • Bullish RSI and MACD above the neutral line ( bullish ).

  • Short-term retrace complete after COSBTC hit 0.00000194 or the 0.786 fib. retracement level from the last bullish wave.


Chart details
  • 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 bullish .

Thanks a lot for reading.

Namaste.

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THIS IS NOT FINANCIAL ADVICE.
Comment: If the resistance at 177 can be broken then COSBTC will start to move higher.

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