🌧️ COTI Bullish Channel

COTI has been in a bullish channel for a while now. Currently, RSI is at the lows and COTI is finding support around the $0.36 level. Hoping for a bullish reversal after bouncing off the bottom of the channel to around the $0.41 range. Buying pressure is increasing for COTI, and selling pressure is low, making it ideal for a reversal.

That said, it's still in highly risky territory right now since breaking the $0.36 support level will result in a plunge, so do wait for signs of the reversal and confirmation of support a few more times before entering the trade. The market in general now is correcting, so we will see how the market performs as well before buying in.

הערה:

COTI is also in a symmetric wedge pattern now, for less risk, wait for breakout at around 0.45 level.

הערה:

For more risk, you can trade COTI by buying in around $0.37 - $0.4 levels, and sell at around $0.448, where COTI has a resistance against a descending wedge pattern for around a 10% gain. Or you could just wait for the breakout of the descending wedge, which may take a few more days.

הערה:

COTI broke out from the downside of the bullish channel if drawn to the $0.36 level. Too risky to trade now, will need to wait for a clearer price action signal. Recommended to sell at around $0.44 if possible or set a stop loss to wait for a clearer signal.

הערה:

It appears that COTI is in a symmetric wedge pattern. Expecting it to head back down to $0.37, hopefully bounce off the bottom of the wedge, and back up to the $0.47-$0.49 level. COTI may not break out of the wedge yet, though, so you might consider taking profits at the top of the wedge and waiting for a more concrete breakout.

העסקה בוטלה באופן ידני:

Have taken profit on COTI for now at the $0.45 levels.