Cocos-BCX vs TetherUS Downtrend Broken, Bull Mode On!
Cocos-BCX (COCOSUSDT) finally broke out of a downtrend that started back in October 2019. This is a strong break and with prices for COCOSUSDT now trading above EMA50, additional growth is sure to happen.
The next barrier is 0.000721 or EMA100. Below this level, we will see COCOSUSDT consolidating, doing sideways until it finally breaks and moves up.
So watch out for a break of EMA100 (purple line), as soon as this level is conquered, we will see Cocos-BCX go much higher.
Conditions for change
If instead prices move lower and close below 0.000609 or EMA10, we take it as a warning that prices can go lower. If the last low at 0.000487 is taken out, then we switch from bullish to bearish.
Right now Cocos-BCX is moving higher against TetherUS and looks like it will continue to grow.
Namaste.
- Here we have a bullish RSI, sitting at 73.
- The MACD is on the bullish zone and allows for additional growth.
The next barrier is 0.000721 or EMA100. Below this level, we will see COCOSUSDT consolidating, doing sideways until it finally breaks and moves up.
So watch out for a break of EMA100 (purple line), as soon as this level is conquered, we will see Cocos-BCX go much higher.
Conditions for change
If instead prices move lower and close below 0.000609 or EMA10, we take it as a warning that prices can go lower. If the last low at 0.000487 is taken out, then we switch from bullish to bearish.
Right now Cocos-BCX is moving higher against TetherUS and looks like it will continue to grow.
Namaste.
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