🚨💹 Trading Signal Alert: COTI/USDT - 12H Chart
🔍 Current Setup:
• 📉 Pattern: Descending Channel
• 📊 Supply Zone: $0.09513 to $0.10480 (Resistance Zone)
• 💰 Demand Zone: $0.04254 to $0.05248 (Support Zone)
• ❌ Invalidation Level: $0.10480
📈 Signal Details:
• 📉 Correction Overview: The COTI correction appears to have begun from the point where the red arrow is placed on the chart. This correction seems to be forming a 🔺 Diametric pattern.
• 📉 Potential Drop: From the red range, there is a strong possibility of the price dropping to the lower areas, specifically towards the Demand Zone.
• 📉 Sell Signal: Near the Supply Zone ($0.09513 to $0.10480) with the expectation of a reversal down towards the Demand Zone.
• 💸 Buy Signal: Anticipated near the Demand Zone ($0.04254 to $0.05248) as price is expected to bounce off this area.
• ⚠️ Invalidation Warning: Closing a daily candle above the Invalidation Level ($0.10480) will invalidate this analysis.
📉 Projected Price Movement:
• 📉 Short-term: A potential move down towards the $0.06700 level.
• 📈 Long-term: Rebound from the Demand Zone with a target to break the Supply Zone.
📝 Action Plan:
1. 👀 Monitor: Wait for the price to reach the Supply Zone.
2. 🔻 Execute Sell: Consider shorting within the Supply Zone if price action confirms a rejection.
3. 🎯 Take Profit: Set target profit near $0.06700.
4. 💸 Prepare Buy: Set a buy order near the Demand Zone for a potential rebound play.
🚨 Risk Management:
• 📏 Stop Loss: Just above the Invalidation Level at $0.10500.
• 📊 Risk/Reward Ratio: Favorable if executed within the given zones.
⚠️ Disclaimer:DYOR and NFA.
$COTI
{spot}(COTIUSDT)
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