$COAI | The AI Melt-Down ๐
Status: Confirmed Downtrend / Breakout Retest. ๐ฏ๏ธ
Vibe: The artificial intelligence hype is hitting a very real wall. This chart is looking heavy, and trying to hold the current support is a losing battle against established mathematical trends. The Ronin finds clarity in the decline. โ๏ธ
* Entry: 0.2661 โ 0.2758 (Sell the Rallies to the EMA cluster) ๐ฏ
* Target 1: 0.2250 (Interim Liquidity Pool)
* Target 2: 0.1842 (Major Structural Support)
* Final: 0.1281 (The AI Winter Floor ๐)
* Stop Loss: 0.2970 (Exit if bulls reclaim the EMA 25) ๐ก๏ธ
The Tea: โ
This is a clean textbook distribution pattern. $COAI tried to find a base at 0.2589, but the subsequent bounce was weak and immediately rejected. Price is now decisively trading below the EMA 7 (0.275) and the EMA 25 (0.296). While RSI(6) is low at 21.1, indicating an oversold condition, in a strong bearish trend, this simply means the sell-off is accelerating. As long as price is pinned under the EMA cluster, the path of least resistance is firmly down.
โ FXRonin | The Way of Discipline โ
Trade $COAI here. โฉ๏ธ
#Crypto #COAI #FXRonin #Bearish #AI
