Technical analysis by OM-MADY-stockmarketclasses about Symbol COTI: Buy recommendation (2/9/2024)

In this chart of COTIUSDT , observed a head and shoulders pattern and for the past 3-4 days, the price of COTI rose to more than 50%. As the thumbnail shows, the pattern had a breakout. Will it surge continuously, go sideways or maybe a reversal? I will provide updates on my full chart analysis in the threads below. Happy trading to everyone and a Happy Chinese New Year :)Comment: For the detail of the pattern, COTI is currently forming an inverse head and shoulders pattern, citing a possible bullish trend from a daily timeframe perspective. In charting the coin, I labeled possible resistance lines thanks to Fibonacci retracements and some back testing and identified three pricelines to consider: 1) 0.08932: 1.236 fib retracement/ bull fractal 2) 0.09798 - 786 fib retracement from swing high to low 3) 0.1 - logical resistanceComment: In entering a position for COTI, I will wait for a few instances of either hitting the first mentioned price line or at the plotted diagonal resistance of $0.0832.Comment: *0.0872Comment: Another note when charting with the coins with momentum such as COTI is to spot some pattern. In that case, a double bottom (a bullish pattern) is materialized and upon breaking the neckline, I entered a scalping trade upon breakout and currently attempting to try another breakout on the plotted trendline.Comment: COTI just skyrocketed past $0.1 priceline minutes ago. Cheers for the profits :)Comment: 1️⃣ OR 2️⃣?Comment: Spotted a breakdown on the triangle on a scalping timeframe. Exit at the 618 fib level.Comment: Identified the current support for COTI. I labeled the next support line if another price breakdown occurs.Comment: I'm using Logarithmic chart for COTI :)