COTI - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
COTI is sitting around strong daily demand in green so we will be looking for buy setups.
on H4: COTI formed a valid channel in red but it is not ready to go yet.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
Trigger => Waiting for a momentum candle close above the last swing high (in gray) to buy.
We have two possible scenarios here, highlighted by the two projections in orange or purple. and the orange projection would result in a stronger setup.
Meanwhile, until the buy is activated, COTI would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
