COTIUSDT has been in a cycle correction since hitting its all-time high in October 2021. The price has been trending downwards in a corrective wave structure, indicating a potential completion of the cycle correction.
Currently, we observe an Inverted Head and Shoulders (ISHS) pattern developing on the COTIUSDT chart. The ISHS is a bullish reversal pattern and consists of a head, two shoulders, and a neckline. The pattern is confirmed when the price breaks above the neckline, indicating a bullish momentum has returned.
Our midterm target is showing on the chart as an important supply zone, which will act as a resistance level. If the price breaks above this zone, it could confirm the bullish reversal pattern and lead to a further increase in price.
As always, we should use proper risk management and evaluate the market conditions before making any trading decisions.