$COW has many short positions for COW that will be liquidated at the price of 1.2x, currently:

- The m15 timeframe is forming a rising trend with higher peaks than previous peaks

- EMA34 is still above EMA89 on all larger timeframes.

- The price is being supported at the Fibonacci level of 1.1x

- Currently, COW is moving sideways in the range of 1.1-1.8, perhaps the sharks are shaking off some positions to scare others into jumping ship before pushing further

It is recommended to limit shorting $COW at this level, it is better to wait to short at 1.2-1.3-1.42-1.5 for safety and less risk!