COTI is getting very close to the absolute bottom and it must bounce off $0.0694 (orange line).
If it does not then the next level is $0.0621 (red line)
We can see that COTI has been in a down trend for almost a month now, the MACRO has not been good for the market but COTI has been hit especially hard.
It has to bounce back.
So, in summary, if we break below $0.0694 then there is definitely more pain in the future.
If we manage to bounce off that level we should be able to reclaim $0.0800
Of course if we recover, the speed of the recovery will depend on the rest of the market, but if we break levels then we will dump fast.
If it does not then the next level is $0.0621 (red line)
We can see that COTI has been in a down trend for almost a month now, the MACRO has not been good for the market but COTI has been hit especially hard.
It has to bounce back.
So, in summary, if we break below $0.0694 then there is definitely more pain in the future.
If we manage to bounce off that level we should be able to reclaim $0.0800
Of course if we recover, the speed of the recovery will depend on the rest of the market, but if we break levels then we will dump fast.
Trade active:
COTI is hugging the $0.0694 line, (the orange one), we seem to be consolidating and this favours a break up rather than down.
COTI is waiting for the market to move.
I will load more COTI now and have a very tight stop loss.
COTI is waiting for the market to move.
I will load more COTI now and have a very tight stop loss.