COTI Crypto -Another Breakout? Price Update and Technical Analysis, Price News Today!
Dont really have much time because did a lot of videos already today, but if you guys wanted another koti update, so i thought come on lets. Do it and um? Well, i did a video today when we already broke above 4.4. Well, 40 cent really and we got all the way up to nearly 50 uh – no 44 cent at the time. I think that was here and we at the time did um look at a uh rebounds from that resistance. Pretty much here at 44 cent did mention it in that video um and we couldnt quite get higher um. That was basically the well. We managed to get through the neckline here, the 40 cent of that w pattern of that. Well, double bottom, pretty much and then we managed to get higher 44 was another resistance level we managed to get above it um. I did say in that video when bitcoin behaves and gets possibly above 44 000. Then we could break higher and we did that. Um really surprises me how cody performs so well at the moment, but my price target that i then gave you was the first one was 50 cent and the reason for that was because 50 that was back here in march. I think it was that was our price 50 cent, and you know i think we can get higher, but maybe not initially. I think there will be a retracement coming very shortly. Um at least a short one um.
I dont know how far that goes here with cody. I think you know looking at the target from that cup and handle, which i you know gave you as well and its just take from that neckline here lets. Just do it roughly just to repeat it um and to be on the conservative side. Lets just add it to the breakout point of that handle here, and that would take us to around 62.. I think earlier today i said 64. um, but you know i would say we can certainly get to 60 cent, and that is quite a bit of a price increase. But we need to understand that cody, in contrast to some other cryptos hasnt, really seen that high. This year, yet because you know um cardano was already much higher, for example, broke out of that pattern already much earlier and cody hasnt cody is just doing that at the moment and it seems to really lead the way at the moment. I think theres a lot of anticipation what could be happening at the cardano summit that there might be some more details about the partnership announced so theres a little bit of that anticipation here. But there have been a lot of bullish news and positive news in the past few days about koti as well, but lets be honest. Kodi hasnt really broken out yet this year and it seems to be doing that right now, but 50 is an important level.
We were there already in march and maybe lets to get a little bit of orientation here on the um on the four hour chart where we are. We are currently in overbought territory on the rsi, which indicates to me that there will be a little bit of a retracement now at the 50 cent level. I dont think well just go through like that, its a bit too obvious, i think um, but it just shows that we are an uptrend, so we might drop a little bit from here um, but certainly will possibly stay above the 50 line, which indicates that we Are still bullish, macd made a bullish cross down here. Um basically predicted that move to the upside here, and also on the adx the trend indicator. We can see that how the green line is now above the red line and similar to the macd. We made a bullish cross here on the 22nd of september and thats on the four hour chart. What is sometimes useful to look at really is the um, the bollinger bands, because you know it can help us understand when we are um lets, say overextended when weve broken out of the bollinger bands, which then indicates that we could drop to the downside again and We can see well, we are not really. Whenever we manage, we broke out of the bollinger bands. We certainly moved with us, so it was not like here on the four hour chart at least and like an over extension where we had to break back in.
So we are actually still sort of at the edge of the bollinger bands, which is fine. That is just indicating that we are in an uptrend pretty much similar as we were here. Sometimes you get this huge bounce out of the bollinger bands. When you then snap back in, for example, here, you could see that that was back in august, where we had that huge pump. We were just overextended broke out of that upper band and then snapped back in. That is usually what happens if you, if you are, if you, your price, increases too fast or theres. This huge price drop like this one. Here again here we bounced out uh broke out of the bollinger band, the lower band and then snapped back in and yeah yeah. I think theres not an immediate risk that that happens, because you can see here on the for our chart where we had a big move, it wasnt too much um and yeah. It seems to go with the bollinger bands, so thats, not um, immediate uh. You know that doesnt mean that we necessarily need to snap back in. I still think there might be a bit of resistance before we go up purely because we are in overbought territory. On the four hour chart. Rsi lets take a final look, maybe at the daily um people obviously always ask you know. Obviously, here on the daily it looks like we are on the daily bollinger band.
We seem to be a little bit overextended, so that indicates to me. Yes, there will be a little bit of a a balance back potentially like we had it here. So i would expect something like that here back in august, where we had that pump to the upside and then because we just came out of the bollinger band of the upper band. The next candle was then a red one took us down again to the probably the 0.5 fibonacci retracement level. So i dont want to you know its just pure speculation in this case, because the retracement hasnt even started but lets just assume there will be a retracement. I think we could, from here go down to the um 41 cent level again um, because it is then similar to what happened back here. Oops, we went all the way up there and then we pretty much went down to the 0.5 fibonacci retracement level, pretty much exactly um yeah, no pretty much exactly yeah. It was here. The 32 cent managed to get up to 40 and then broke down to 32 cents, actually need to get a bit higher, but it doesnt matter. So it was the 0.5 without retracement level that we hit back then thats, typically or oftentimes. What happens you know is often that these retracements go back to around the 0.5 fibonacci retracement level, and it would surprise me to be honest if we just go through here, it could happen because of the anticipation before the um.
You know the cardano summit, for example, but i think technically you cant expect much more on a day. You know 30 to the upside. I think there will at least be a little bit of a consolidation now, even though it could be just a short one. Maybe drop back down to 45, or so that was the last resistance level um and then from then move up um but yeah its a strong uptrend, certainly, and if bitcoin really continues its move to the upside, i think there could be some exciting times happening here. I think the next target gave it to you was 60 um at least 60 60 to 65 somewhere in that range. That would um then complete, basically that cup in hand – and someone in the comments asked me about – is there an even bigger cup and handle on the weekly uh lets? Just take a quick look. Well, it is pretty much that one that we um, i think, is probably that one, and that is the one that were just breaking out of. So i think there is that one so its pretty much visible on the daily as well dont see another one, but here on the daily, you can see it as well, that is the cup and handle that we are currently breaking out of on a larger scale. Yeah cup handle first breakout attempt failed, but now the second pretty much moved to the upside, but theres another resistance level.
Here you could even think that might be one big cup shape here, um. If and if that was the case, i mean its not perfectly round, but if that was like one cup pretty ugly cup, but lets just assume. That would be one. So you have a cup here, then we have that handle or maybe even if we zoom out that could be the whole cup still you know with a bit of fantasy and then we could get a retracement here, as i said, maybe down to that point. Five foot retracement level – maybe even if we extend that trendline further up, maybe down to that um trend line here, because that is a valid one. That was an ascending trendline. Maybe we could hit that here and then move up from there thats? Why? I think there might be retracement here to the um yeah a little bit down to maybe 45 cent or so, and that would be then from that larger cup shape that handle and then up but thats pure speculation could be something that might be emerging. The next few days well see, but it looks really good that that whole thing looks really good just before further breakout, so nice um, if we break above 50 thats the level we need to watch now all right. Hopefully you like that update.