Confirmed Inverted Head and Shoulders, while target hasn't been reached yet, and COTI just got back down to the neckline (white) and strong support zone 990-880sats. I will be buying the touch of yellow uptrendline around 880sats. Target 1670sats. Invalidation 694sats. RRR 4
Check my previous COTI/BTC idea down...
I have a long term COTI chart vs USD for those interested. At the moment though, as BTC Dom is beginning to push up, I am charting against BTC primarily.
COTI looks like it is in the midst of completing an expanded flat correction before next wave up. Near term, I'm neutral as I'm not convinced this is bottom yet, retesting the previous high as well as the...
i believe we just topped out in a big wyckoff distribution scheme. its very hard to determine the distribution if youre at te top of the scheme, but i think its very similar to the textbook wyckoff distribution
Feeling super bullish on COTI atm, coming out of a red sunday having support on R/S flipped resistance and looking to breakout the triangle with Fibonacci at the 0.382 mark.
I've been watching COTI for quite some time now and its always been hovering close to the R/S line and only broke out after the COTI listing news on Coinbase. This retracement will not go...
A) If COTI does not loose the fib level, I would expect more accumulation within the triangle.
B) If closes below fib level, I would expect the price to retrace to the .5 fib level that would offer a great support and opportunity for a long setup with a good R/R
I think this confluence of trendlines will provide strong support for COTI. Once the price breaks out of the pink falling wedge COTI should outperform BTC. What's your take?
This analysis is dedicated to @TheAussieBogan 🦘
#COTI/BTC TA update:-
#COTI/BTC currently trading at 427 Satoshi
And 400 Satoshi level is very strong level and this is holding strong.
So I am buying some #COTI here.
Entry:- 410-430 Satoshi
Targets:- 527/667/767 Satoshi
SL:- 398 Satoshi
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