COTIUSDT is testing the 4h support
The price had a breakout from the weekly support and created a double top on the daily timeframe.
On the 4h timeframe, the price is a breakout from the dynamic and static support.
How to approach?
If the price is going to confirm the breakout, we can apply our rules for a new short position.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
COTIUSDT.P trade ideas
COTI up for some gainsCOTI has been consolidating after the last rally and it held the first support so far. Momentum is going for oversold territory.
I'm expecting COTI to pick up some volume and make a move towards the targets marked in the chart which is above 50%.
Stop would be placed around 0.40 to avoid the wicks in case big boy BTC makes a move which gives a RR > 2 for the first target and that makes this trade worth it. Position size should be minimal and may be increased if entering at a better price around 0.45
Good Luck!
COTI - Trend-Following Buy Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow.
COTI is overall bullish and now approaching the lower blue trendline so we will be looking for buy setups on lower timeframes.
on DAILY: COTI is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing.
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, COTI would be overall bearish can still trade lower inside the green support.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
COTI Analyze (Road Map)!!!🗺️First, I tried to find an exchange that has more data or candles for COTI. The KuCoin Exchange was one of the first exchanges that launched COTI (03 Jun 2019).
What is the COTI❗️❓
COTI stands for Currency of The Internet with the aim of creating a decentralized and scalable payment network to facilitate efficient global trade. COTI wants to create a new decentralized, high-reliability, cost-effective payment method by combining distributed ledger technology and traditional payment methods.
The COTI Network is designed to develop a new generation of online payments. The COTI network management team claims that the network's high adaptability to consumers and businesses speeds up transactions across different parts of the world. COTI network with a goal such as building trust and transparency, increasing decentralization and efficiency, reducing transaction costs, making it easier to sell products, and support for Fiat and digital currencies provides a platform that is the easiest and most consistent payment method in the industry.
COTI Analyze ( COTIUSDT ) Timeframe Weekly⏰ (Log Scale)
COTI has started its main Journey at 0.0052$. It was able to run in an Ascending Channel and passed its Impulse wave with Extended 3rd at 0.645$. For now, COTI is running in Main wave 4 and I tried to show the end of the Main wave 4 in my chart.
Where can be the end of Main wave 4❗️❓
🎯Target 1🎯: 0.23$ until 0.21$ on the bottom of the ascending channel (More possible).
🎯Target 2🎯: 0.13$ until 0.08$ (Heavy Support Zone + TRZ (Time Reversal Zone)).
When we can verify the end of Main wave 4, then we can talk about New ATH (All Time High).
🔴Resistance Zone🔴 & 🟢Support Zone🟢 that we have in front of COTI.
🔴Resistance zone on COTI's way:
🔴Resistance zone: Simple Moving Average (SMA) 50 + 100 + 200 at Daily Timeframe.
🔴Resistance zone: 0.48$ until 0.42$.
🔴Resistance zone: 0.76$ until 0.66 (Heavy Resistance zone).
🔴Resistance zone: 1.64$ until 1.32$.
🟢Support zone on COTI's way:
🟢Support zone: 0.3$ until 0.2$.
🟢Support zone: 0.13 until 0.08$ (Heavy Support zone).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
COTIUSDT Daily TA : 02.10.22 $COTIAll the supports and resistances are marked on the chart and everything is clear in this analysis , but , just in case , if you had any questions or doubts Please feel free to ask in the Comment section .
Follow our other analysis & Feel free to ask any questions you have, we are here to help.
⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 10.Feb.22
⚠️(DYOR)
❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
COTI - Daily - "Trapped Between 2 Major Levels"Click Here🖱️ and scroll down👇 for the technicals, fundamentals and more behind this trade!!!
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................................✋Not Financial Advice; DYOR👍...............................
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➡️Technical Standpoint⬅️
1.) Trapped between a ceiling at $0.4067 and floor of $0.2666.
2.) Bears are in control as long as the majority of the MA's remain red.
3.) A possible retest of $0.2782 and $0.2666 are likely. Losing those levels gives way for a stronger move down.
4.) A break and hold of $0.4067 will lead to a retest of the $0.5208 level.
➡️Fundamental Standpoint⬅️
1.) Simplex Integration in Q1
➡️Current Season⬅️
- BTC and ETH Season
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....🎉🎉🎉Before You Go🎉🎉🎉…..
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..📚Indicator Legacy/Definition(s)📖..
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✨ Moving Averages(MA):
✨ TD Sequential (TDS): tradetrekker.wordpress.com