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COTI / TetherUS

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COTIUSDT trade ideas

COTI 1D - Possible Big Move DownwardsHello friends, today I am completing a technical analysis on the 1D linear scale chart for Coti (COTI), a cryptocurrency altcoin. In the chart I noted: 1) COTI price recently formed a Double Top and it broke down from the bottom of that trendline. The measured move of the Double Top Formation Pattern is going to bring the price to $0.25, which is a 38-40% price drop. 2) When reviewing the Fibonacci Retracement, that price drop level falls in the 0.618 zone, which is also a major support zone dating back to March 2021. This may be where the price bottoms out and starts to move back up. 3) I took the last three Double Top Formations and saw the price correct significantly. Assuming the price does drop down to the $0.25, that would be a 61% drop from the top of all time high price. 4) The RSI (relative strength index) has also not reached the oversold region yet as it has done in the past three Double Top Formations. I assume we will see the price go lower and completing a double or triple bottom before we see the price moving back up. 5) Interesting, the Volume has picked up over the past few months so there are buyers and sellers for COTI. 6) This idea would become invalidated if we move above the trendline at $0.44 for more than a 1D period. Stay a bit cautious on this one as history doesn't generally repeat, but surely rhymes. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
COTI - Will History Repeat Itself?Hello TradingView family, this is Richard. I find COTI chart interesting. I have been holding/following this one for a year now and noticed that lately COTI is respecting the inverse head and shoulders pattern well lately. We are no doubt overall bullish trading inside the two blue trendlines forming a rising broadening wedge. Previously COTI approaches the lower bound / blue trendline, formed an inverse head and shoulders pattern, and traded higher. This happened twice! Are we going to see it happening a third time? We are waiting for the right shoulder to form, then buy on the gray neckline break upward. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
24
Brief idea on the price prediction of COTI's next leg up This is not promoting opening a long or short position in COTI. I do not advise trading any assets. You should research more technicals and fundamentals to dictate an investment or take this point of view as entertainment or an educational idea. I speculate COTI will repeat the parabolic gains experienced in early 2021 where the 1 is positioned. The following speculates a repeat of the price as the graph is a direct 1:1 scale pasted to where the price is currently in its position in time. COTI has had a long accumulation and taking into consideration of the current market these gains are not impossible. The pasted price movement also follows the key FIB levels. This movement correlates to the narrative of crypto in December hitting its highs. I personally believe crypto will find its to during December as the quarter comes into a change the market will experience a sell-off followed by more parabolic gains when high fear is widespread but this is off the topic COTI.
Long
by UnknownUnicorn18501498