COAI Possible Elliot Wave CountCOAIUSDT Perpetual ContractBYBIT:COAIUSDT.PnowairCOAI recently broke above the descending trend line after hitting the 78.6 fibonacci retracement of the sharp move up in early October. The chart can be interpreted as 5 waves up and 3 down, potentially creating a long opportunity up to recent high and perhaps even larger if this is the start of a larger cycle. Alternatively, this retracement could also be a B wave, in which case a rally is still expected. A sustained break above $0.99 will be needed as a first signal of trend reversal.