Evening Traders,
Today’s analysis – COTIUSDT- impulsive price action above range high, holding this range shows strength in price action
Points to consider,
- Price Action Impulsive
- 200 MA Support (.50 Fibonacci & 21 MA Confluence)
- Range High Resistance
- Oscillators Bullish
- Low Volume
COTUSDT’s immediate price action is trading above range high with impulsive price action; this allows us to have a bullish bias on the market.
The 200 MA is current support that is in confluence with the .50 and 21 MA, thus a bounce here is probable as evident.
Range High is immediate resistance, breaking above this level will deem trend continuation.
Oscillators are both bullish, maintaining their respective bullish control zones will indicate strength. The RSI has respected its 50 mid whilst the Stochastics is approaching as valid buy cross.
The current volume profile is below average after a climatic influx, this marked a temporary bottom in price. Bull volume follow through is now needed to sustain bullish momentum.
Overall, in my opinion, COTIUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this helps!
Thank you for following my work
And remember,
“Only The Game , Can Teach You The Game” – Jesse Livermore
Today’s analysis – COTIUSDT- impulsive price action above range high, holding this range shows strength in price action
Points to consider,
- Price Action Impulsive
- 200 MA Support (.50 Fibonacci & 21 MA Confluence)
- Range High Resistance
- Oscillators Bullish
- Low Volume
COTUSDT’s immediate price action is trading above range high with impulsive price action; this allows us to have a bullish bias on the market.
The 200 MA is current support that is in confluence with the .50 and 21 MA, thus a bounce here is probable as evident.
Range High is immediate resistance, breaking above this level will deem trend continuation.
Oscillators are both bullish, maintaining their respective bullish control zones will indicate strength. The RSI has respected its 50 mid whilst the Stochastics is approaching as valid buy cross.
The current volume profile is below average after a climatic influx, this marked a temporary bottom in price. Bull volume follow through is now needed to sustain bullish momentum.
Overall, in my opinion, COTIUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this helps!
Thank you for following my work
And remember,
“Only The Game , Can Teach You The Game” – Jesse Livermore
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Disclaimer
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.