COTIBTC Falling Wedge| Low Volume | Retest of lows
Evening Traders,
Today’s Technical Analysis will focus on COTIBTC, trading in a probable falling wedge looking to retest local lows.
Points to consider,
- Trend bearish
- Lower lows likely
- RSI showing signs of divergence
- Stochastics neutral
- Volume Clearly declining
COTI’s trend has put in consecutive lower highs after breaking the all-important 21 EMA. A lower low is likely as this will test structural support.
The RSI is putting in higher lows, will eventually form into a bullish divergence upon a retest of lows (green area). Stochastics is currently neutral with momentum stored in both directions.
Volume nodes are clearly declining; this signals a move being imminent in the near future.
Overall, in my opinion, COTI is likely to retrace back to local lows for a retest, which will put in a bullish divergence, increasing the probability of breaking bullish from this pattern formation.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Today’s Technical Analysis will focus on COTIBTC, trading in a probable falling wedge looking to retest local lows.
Points to consider,
- Trend bearish
- Lower lows likely
- RSI showing signs of divergence
- Stochastics neutral
- Volume Clearly declining
COTI’s trend has put in consecutive lower highs after breaking the all-important 21 EMA. A lower low is likely as this will test structural support.
The RSI is putting in higher lows, will eventually form into a bullish divergence upon a retest of lows (green area). Stochastics is currently neutral with momentum stored in both directions.
Volume nodes are clearly declining; this signals a move being imminent in the near future.
Overall, in my opinion, COTI is likely to retrace back to local lows for a retest, which will put in a bullish divergence, increasing the probability of breaking bullish from this pattern formation.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.