* 1D
Coinbase(COIN) has a inverse head and shoulders pattern.
Coinbase's stock price leads Bitcoin, so it can predict the future of Bitcoin.
In the mid- to long-term, the pattern target price can be set at $112 / $150-156 / $207-224.
Comment:
A strong support area has been reached and a rebound has come.
The red box is likely to rise again with a very strong support area .
A strong support area has been reached and a rebound has come.
The red box is likely to rise again with a very strong support area .
Trade closed: target reached:
TP2 hit +100%
TP2 hit +100%
Following the previous Coinbase analysis post of related ideas, I will now update the comments following this post.
I've talked about Coinbase's inverse head and shoulders pattern that I analyzed earlier, and it's continuing its sharp rise after breaking through the long-term downward trend.
The red box, which had been a strong resistance zone, was supported after the breakthrough and turned into strong support, leading to a big rise.
It reached $112 TP today.
About 86% of the previous posting purchase price, about 47% of the new posting purchase price.
This strong trend is likely to continue, and there is still a high possibility of further upside.