COTI Crypto – Price Chart, Price Update and Technical Analysis, Price News Today!
Some of you guys have requested that and theres. No wonder why, after these huge pumps and downfalls after the last few days, a lot of volatility in the market – and i really want to make this video to tell you – be a bit careful now, because why i was really bullish on kodi. In the last few weeks, since actually um july, really, i think i started to talk about cody here when it was at around 13 cents, and it is really time to be on the side of caution now, in my view, um it was. I mean this is the hourly view so need to go way back to when i um started talking about kodi on this channel. Not a lot really happened, um throughout august. You know and then at some point we really had that massive peak here and since then theres been a lot of volatility in the market. You see that lots of up and downs and then we broke out of that cup and handle shape here. Weve hit the target levels that i gave you on this channel. We hit the 50 cent. We then hit the 60 or even 65 cent. That was, i think, the last one that i gave you and really really accurate. I mean we managed to get up to 66 and i think 65 or around 65 was what i gave you in one of the last koti videos, and it is time to think about profit taking.
I took some profits, not all of it and thats, always what i do i do. I dollar cost average in and then i dollar cost average out. I think in the long run, koti has a bright future, but i took some profits just to take some of the risk out, because the profits have been significant and um. You know, even if you bought at 30 cents, it might be, it might be worth thinking about some profit taking because – and i say that because of a few things i mean – we have seen here – a really strong uptrend and what we see now for first time In a long time, really, if you just look at the price action in itself for the last few days, we see a lot of red candles here. Just the height of the red candles is when you look at the price. Action in itself is really important to to you know to to see, and it is a first heads up that things are changing in my view, also what you can see that these moves to the downside, the consolidations become more stronger. We saw that with cardano as well before the market started to roll over, and if you remember that um koji was really late in the game. You know when other cryptos already saw their all time. High coty was still, i dont know somewhere 30 20. So it was really late in this crypto bull run and it has caught up, but maybe now it is also late in that rollover market and you can start to get an idea that the the the the uptrend is slowing down and then there might be a Risk that the market is rolling over, you can see that here in this sort of shape that is forming that we saw with cardano and bitcoin as well before it started to roll over.
I just want to make you aware of it. What we also see here is that we broke that trend line that we have actually been trading above since the 22nd of september. We broke that to the downside now, so we had here one two three touches and then the fourth touch we really broke to the downside. Theres another heads up that things might be changing. You can see that you can actually add another trendline here, and you can see that the trend is now lower um. Why the? While it was really easy for the buyers to push the price higher since here, the 22nd of september weve moved up to the to that high here, very short consolidation. We pushed higher a stronger consolidation, and now we didnt push that much higher. You can immediately see that the buyers had more difficulties to push the price even higher, and also the consolidation was much stronger. So while we still saw a higher low, it was really really minor. So you dont even from that low to that low. There wasnt much difference and where can we? Where else can we see that? Well, we can see that if we take a look at the rsi, this is the next heads up that we actually here on the hourly, make a bearish divergence. So from that wave to that wave we see the trend slowing down. So we see the momentum slowing down. We saw that with cardano as well before the market rolled over, and we saw that with bitcoin as well before the market rolled over, so be extremely careful dont jump in dont fomo in um.
It is now time, maybe to think about profit taking. I did say that already um, yes, you know we saw a golden cross on the daily and i will go back to the daily in a minute, but you can see these trend lines very clearly on the hourly lets. Just have another look on the four hour chart before we go just to the daily and here as well, you can see the trend line and you can see these impressive gains. If i move out a little bit, this is by the way the binance chart. So it should be more accurate. I think i started with um code. You know with q coin koti tether, but for many people it wasnt much use because most of you guys, i think, traded on binance and you can just see these impressive gains and also, if we consider that a cup and handle, i think the price target was Met that is what the price target um, guys, that we talked about of up to 66 cents, and you know we are there there. We are – and i mentioned that in previous videos – and that is now im happy with my profits. I took some of them out. Um, i still have koti uh im, not taking everything out, because, as always, you never know the price could go up once more, but i just want to make you aware that it, you know it its not always going to stay um green and there will be Times of consolidation, so just be careful guys, and here also on the four hour weve seen a bearish cross on the macd.
So last time that happened, that was here. We saw a few days of um consolidation and also on the four hour. We see that bearish divergence on the rsi very important. We also came in the overbought territory, so it is clear that there was some area of con that there was a little bit of consolidation coming and that it was going stronger. So maybe we see another move to the upside, but it could be that we will bounce off the downside of this trend line now and that we will fail to make a new high and then we could quite rapidly see the price drop similar to what weve Seen with other cryptocurrencies when they fail to make a new high in this bull run before cardano dropped, for example, before bitcoin dropped on the daily. However, we still see a very, very positive and bullish rsi here and on the macd, also on the daily. We actually cant also on the rsi. We cant really see a bearish divergence. Yet, however, if we zoom out, i think we can to a certain extent, on the large on the larger scale. So if we zoom out um, let me just adjust that a little bit thats the daily by the way so from here from end of august to here, we can actually see that bearish divergence as well yeah. So while the price was going up, you can see that here we can see on the rsi in the big picture, also a descending or um yeah, a bearish divergence, so its time to be careful time to think about profit taking.
I cant recommend anything to you, because everybodys financial position is different. Also, legally, i cant tell you – and i dont want to because everybody should be old enough and mature enough to make their own decisions, so i can only inform i can only help you to make sense of these charts and the divergences are a very, very good Indicator about things that could be changing and also you know, we broke below that trend line and we see bigger red candles. So, yes – and we have seen that pump already, which was quite significant – and i think there was a lot of anticipation before the summit. So, as it often times is with these things, there could be a little bit of buy the rumor sell the news coming after the event or during the event, so i mean talking about the cardano summit here, so its just a call to be careful. I am, of course, like you know, you never know, and we never know before we actually finalized here on the hourly that next high. I would you know you want to see if um we are fading. If we are making a new high or not, and that could even become a head and shoulders here. You know you can even get a head and shoulders with a um with a neckline. That is ascending or descending, so it doesnt need to be horizontally, and if that is playing out, that head show, if that really will become a head and shoulders, which means that it would mean that we are failing to make a new high.
Then, if we zoom out, we can also estimate our price target and i guess that could actually drop us down here to the 200 period. Moving average on the hourly and the price target would be from the upper side of that head formation to that um to the neckline, and then we it would even take us lower. So i think it could take us down to 30 cents again right, which would go very well in line with those previous support levels down here so yeah. It might be worth thinking about some profit, taking guys just to think about it, all right, so hopefully uh that video was useful if you liked it.