Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
COTI is showing a uptrend within this triangle.
The EMA 55/100/200 are coming down. I expect that the EMA 21 will cross these EMA's, causing some nice moves to the upside!
With all the upcoming events at the end of June, I expect a upwards movement upwards, breaking the restistance level as indicated.
PT1: $0.50 (FIB 0.786)
PT2: $0.60 (FIB 1.0)
PT3: $0.87 (FIB 1.618)
PT4: $1.32 (FIB 2.618)
PT5: $1.77 (FIB 3.618)
All targets are based on the Fibonacci levels from my previous idea.
COTI is showing a uptrend within this triangle.
The EMA 55/100/200 are coming down. I expect that the EMA 21 will cross these EMA's, causing some nice moves to the upside!
With all the upcoming events at the end of June, I expect a upwards movement upwards, breaking the restistance level as indicated.
PT1: $0.50 (FIB 0.786)
PT2: $0.60 (FIB 1.0)
PT3: $0.87 (FIB 1.618)
PT4: $1.32 (FIB 2.618)
PT5: $1.77 (FIB 3.618)
All targets are based on the Fibonacci levels from my previous idea.
