COTI

Jul 3, 2023

COTI [1W] - Elliottwave

I: Impulse 2019-2021
II: Expanded flat correction (3-3-5)
III: Momentum phase next up

Red C-wave ends with a descending broadening wedge, 'E' hit almost the 0.618 retracement of ATH-ATL

Targets III: $3-15, $5 main



When zooming in it's clear that wave A through E within the wedge can be complete: each wave can be subdivided in a 3-wave (A-B-C).

Chances are that the $0.04 line gets tested. The latest move up is reminiscent of a potential bear flag.

This wouldn't break the macro structure at all