COTI has been consolidating after the last rally and it held the first support so far. Momentum is going for oversold territory.
I'm expecting COTI to pick up some volume and make a move towards the targets marked in the chart which is above 50%.
Stop would be placed around 0.40 to avoid the wicks in case big boy BTC makes a move which gives a RR > 2 for the first target and that makes this trade worth it. Position size should be minimal and may be increased if entering at a better price around 0.45
Good Luck!
I'm expecting COTI to pick up some volume and make a move towards the targets marked in the chart which is above 50%.
Stop would be placed around 0.40 to avoid the wicks in case big boy BTC makes a move which gives a RR > 2 for the first target and that makes this trade worth it. Position size should be minimal and may be increased if entering at a better price around 0.45
Good Luck!
Trade active:
it did make a 0.4685 dip it seems my idea is still valid
Comment:
support line holds :) lets pump
Comment:
after 0.67 it will go boom
Comment:
(blue dotted) trend resist tested.
stop now can be placed around entry to take the risk free option.
stop now can be placed around entry to take the risk free option.
Comment:
below 0.40 we might see another 30% drop. stay safe.
Comment:
0.40 holds for now
Comment:
well it didn't and 30% drop happened. now hold 0.26 or it is dead
Trade closed manually:
dead as the rest xD