$COHR Drops 3.7% Amid BTC Weakness — Is a Bullish Reversal Brewing or Are Bears Preparing Another Breakdown?
COHRUSDT.P remains bearish on the 1H, daily, and weekly timeframes, with Bitcoin also showing downside pressure. Despite the recent bounce, buyers have yet to prove that a genuine trend reversal is underway.
However, an interesting signal is emerging: 4H bullish divergence against BTC, suggesting potential relative strength and an early possibility of accumulation. Open interest is also rising, while taker positioning favors buyers. These signals deserve attention, but price confirmation remains essential.
Key Support and Resistance Levels
- 224.02: Immediate demand and critical short-term support.
- 207.62: Next major downside demand.
- 198.33: Deeper support if selling pressure accelerates.
- 230.49: First resistance and nearby supply/FVG.
- 238.78: Second resistance and major upside target.
- 246.07: Critical bullish structure-flip level.
Bullish Scenario: Counter-Trend Opportunity
A potential long setup could develop if price sweeps and reclaims 224.02 or prints a strong bullish engulfing candle above support.
Confirmation requires a 1H bullish structure break above 230.49, ideally supported by increasing volume.
Potential upside targets
TP1: 230.49
TP2: 238.78
TP3: 244.71
A sustained 1H close above 246.07 would provide stronger evidence of a genuine bullish reversal and could trigger additional short covering.
Bearish Scenario Breakdown Risk
If COHR loses 224.02 with strong selling volume, downside momentum could accelerate toward 207.62 and potentially 198.33.
For counter-trend longs, 220.96 is the key swing-low invalidation level, with 216.64 acting as an additional protection zone.
Market Flow Snapshot
Open Interest: $6.1M (+4.3% over 24H)
Funding Rate: +0.0021%
Taker Ratio: 1.24x
Final Verdict: Bears still control the broader structure, but bullish divergence and rising OI suggest that a potential reversal is worth monitoring. Until 246.07 is reclaimed.
Not financial advice.$COHR
#COHR #CryptoTrading
COHRUSDT.P remains bearish on the 1H, daily, and weekly timeframes, with Bitcoin also showing downside pressure. Despite the recent bounce, buyers have yet to prove that a genuine trend reversal is underway.
However, an interesting signal is emerging: 4H bullish divergence against BTC, suggesting potential relative strength and an early possibility of accumulation. Open interest is also rising, while taker positioning favors buyers. These signals deserve attention, but price confirmation remains essential.
Key Support and Resistance Levels
- 224.02: Immediate demand and critical short-term support.
- 207.62: Next major downside demand.
- 198.33: Deeper support if selling pressure accelerates.
- 230.49: First resistance and nearby supply/FVG.
- 238.78: Second resistance and major upside target.
- 246.07: Critical bullish structure-flip level.
Bullish Scenario: Counter-Trend Opportunity
A potential long setup could develop if price sweeps and reclaims 224.02 or prints a strong bullish engulfing candle above support.
Confirmation requires a 1H bullish structure break above 230.49, ideally supported by increasing volume.
Potential upside targets
TP1: 230.49
TP2: 238.78
TP3: 244.71
A sustained 1H close above 246.07 would provide stronger evidence of a genuine bullish reversal and could trigger additional short covering.
Bearish Scenario Breakdown Risk
If COHR loses 224.02 with strong selling volume, downside momentum could accelerate toward 207.62 and potentially 198.33.
For counter-trend longs, 220.96 is the key swing-low invalidation level, with 216.64 acting as an additional protection zone.
Market Flow Snapshot
Open Interest: $6.1M (+4.3% over 24H)
Funding Rate: +0.0021%
Taker Ratio: 1.24x
Final Verdict: Bears still control the broader structure, but bullish divergence and rising OI suggest that a potential reversal is worth monitoring. Until 246.07 is reclaimed.
Not financial advice.$COHR
#COHR #CryptoTrading