COTIUSD trade ideas
COTICOTI markets itself as the first blockchain protocols that empowers organizations to build their own payment solutions and is optimized for decentralized payments and designed for use by merchants, governments, payment DApps and stablecoin issuers. Anyway, after COTI's upward phase ended, it then entered a correction phase in the form of a butterfly/scissor pattern. Just recently, COTI broke this pattern with a strong upward wave, which is a harbinger of much higher targets. Let's see what happens.
Coti showing heavy resistance.I was looking forward to Coti showing some nice movement upwards on the 3 hr to get above the 200/233 sma.. It did not even come close to threatening its level. I am beyond disappointed Coti especially with BTC breaking out and giving some back but still showing higher highs.
So back to the 12 chart and needing to get above the 0.382 fib and 40 sma to even threaten the 3 hr 200/233 levels.
Well, I hope we get to take another shot at those levels . Keep vigilant my friends and trade with a plan.
COTIECONOMICS:COTI - Elliottwave
I: Impulse 2019-2021
II: Expanded flat correction (3-3-5)
III: Momentum phase next up
Red C-wave ends with a descending broadening wedge, 'E' hit almost the 0.618 retracement of ATH-ATL
Targets III: $3-15, $5 main
When zooming in it's clear that wave A through E within the wedge can be complete: each wave can be subdivided in a 3-wave (A-B-C).
Chances are that the $0.04 line gets tested. The latest move up is reminiscent of a potential bear flag.
This wouldn't break the macro structure at all
COTIUSD AND HIS DIAMETRICConsidering that the chart data is not developed enough, this is just an initial idea about the initial log of a very large pattern, this log is seen as a diametric, whose F log is not yet completed and after another time-consuming falling log. It is placed in a post-pattern and pump state
COTI possible Cup and handle.. Folks,
As I love coti and it's project we have to bear a little patience..
Cup is almost formed and let's hope for a bull flag down to support and than pump it up with the handle move..
Always be aware of this being my opinion and view on the charts..
But hé I freaking love it..
Always do your own research..
Feel free to comment, share/like and follow..
Also check out my other chartings..
COTI, IN A SENSITIVE SITUATION...!Coti needs a breakout to be able to determine its next move.
According to the image above, given the divergence and the current market conditions, we can expect the Coti to reach around $ 0.09. (personal opinion)
This post is only a personal review and should not be used as a basis for buying and selling.
-Thanks-