Besides the interesting fundamentals, I am bullish on COTI for a number of signals from the charts. I apologize for the confusion in the drawings but that was necessary.
Not financial advice.
Best from Nips
- The September drop caused a sell-off that, coincidentally with rising BTC.D, caused the price to fall down and eventually lose the ascending trendline in green (aka lower boundary of the rising channel)
- We gained back EMA200, then EMA100, and now trying to drive up the faster EMAs
- Price already reached 618fib from ATH to November lows, now printing HHs and HLs
- Daily close above $0.05 will be bullish, although we're facing a resistance zone at $0.0505-$0.057 which makes such entry riskier than usual: if you want to play it safer wait for breakout and retest of the same levels.
- If you're swing trading, SL could be set below the upper boundary of Ichimoku cloud or EMA100
Not financial advice.
Best from Nips
Comment:
Zooming out to Weekly timeframe you can see the second major trend line, colored in white. As BTC volatility is making it hard for COTI to achieve a bullish close over the green trend line, it is wise to DCA down until the trend line from March 2020, around $0.04.