Short

$COTI/USDT 12h (#BinanceFutures)Descending channel on resistance

Updated

Currency Of The Internet just got rejected on 200MA and could reverse here.
coti.io

Note

Current Price= 0.27959
Sell Entry= 0.28409 - 0.30145
Take Profit= 0.24217 | 0.21253 | 0.18288
Stop Loss= 0.33511

Risk/Reward= 1:1.2 | 1:1.9 | 1:2.6
Expected Profit= +17.28% | +27.41% | +37.54%
Possible Loss= -14.46%

Fib. Retracement= 0.382 | 0.618 | 0.883
Margin Leverage= 1x
Estimated Gain-time= 6 weeks

Trade active

First entry filled

COTI started retracing down yesterday almost hitting TP1 then bounced back to supply zone. Let's be patient enough!

Trade active

2nd and 3rd entries filled

CurrencyOfTheInternet regained 200MA but still being rejected on upper-line channel, let's stick to the plan here!

Trade closed: stop reached

SL hit with -14.46% (1x) and -1R

COTI broke-out bullish after all after being rejected a few times.

Trade closed: target reached

TP1 would have been reached with +17.28% (1x)

CurrencyOfTheInternet retraced down after all, seems like it was a bull-trap / stop-hunt..

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