$COTI This 15-minute move is a bit interesting—volume surged straight to 5.6x, and volatility also spiked hard.
The price has broken above the recent range high, and OI is still trending upward, which suggests fresh leveraged long positions backed by real money are entering—not some kind of short covering false breakout. On the 1-hour timeframe, OI is also adding; the rhythm looks fairly steady.
That said, I need to pour some cold water—the difference between the active buy and sell order book is still negative. The follow-through from the buy side isn’t quite strong enough. For this move upward to be solid, you’ll need sustained confirmation with adequate volume. In the short term, can it hold the breakout level? Otherwise, it’ll turn into the same old slap-back-and-forth script.
Manage your position size accordingly—don’t chase the price up.
The price has broken above the recent range high, and OI is still trending upward, which suggests fresh leveraged long positions backed by real money are entering—not some kind of short covering false breakout. On the 1-hour timeframe, OI is also adding; the rhythm looks fairly steady.
That said, I need to pour some cold water—the difference between the active buy and sell order book is still negative. The follow-through from the buy side isn’t quite strong enough. For this move upward to be solid, you’ll need sustained confirmation with adequate volume. In the short term, can it hold the breakout level? Otherwise, it’ll turn into the same old slap-back-and-forth script.
Manage your position size accordingly—don’t chase the price up.