COTI - 8-13%+ Drop Incoming (RSI H&S Case Study)
1. Double head and double right shoulder pattern in RSI
2. Break of RSI neckline
3. Price comes down to the green 55EMA which has confluence with horizontal support
Again we see the green 55EMA has confluence with horizontal support. If the RSI H&D pattern breaks down, will we see price follow to the same area?
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Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier red lines may are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
2. Break of RSI neckline
3. Price comes down to the green 55EMA which has confluence with horizontal support
Again we see the green 55EMA has confluence with horizontal support. If the RSI H&D pattern breaks down, will we see price follow to the same area?
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier red lines may are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.