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 🦘
Cheers!
This analysis is dedicated to @TheAussieBogan 🦘
Cheers!
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Zoom out to see the oldest trendline
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Drawings updated. COTI broke out of the pink falling wedge and now trying to get back above the trendlines confluence. That would be really bullish 🐂
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Inverted Head and Shoulders in the making. If confirmed it should get the price comfortably above the trendlines confluence.
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Inverted Head and Shoulders invalidated. Anyway the neckline acts as strong resistance, so if break it and get above, that would be good sign.
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Neckline broken, now it should act as support. I think we can see pullback to test this level as support. My target will be the lime major downtrendline.
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Neckline successfully tested as support, price has been squashed between trendlines, and now prolly breaking up. Close above the upper yellow trendline should be bullish.
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Closed above the upper yellow trendline, tested as support and went up. Retest of the yellow trendlines possible before next leg higher.
Trade stängt: målet nått:
Here we go, lime Trendline (=Target) hit! 🎯
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Spilled badly after reaching the target. Now back on track...
