- COTI price breaks above a descending wedge pattern, signaling a change in market structure from bearish to bullish.
- COTI announces its participation in the Central Bank of Israel for its CBDC project.
- On-chain data shows COTI's capitulation events occurred on Friday and Sunday.
- A daily candlestick close below $0.066 would invalidate the bullish thesis.
COTI (COTI) price retraces by 1.2% at $0.1125 at the time of writing on Wednesday after breaking above a descending wedge pattern last Friday, leading to an 8% rally over the subsequent four days. The announcement of COTI's participation in the Central Bank of Israel's CBDC project coincided with capitulation events on Friday and Sunday, as indicated by on-chain data, suggesting the possibility of a price rally for COTI in the near future
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