COIN shorting on the current Macroeconomic situation.

Short

Coinbase Global (NASDAQ:COIN)

Updated

NASDAQ:COIN Coinbase Global

trendanalysis movingaverage shortsetup bearish

We are not in clear waters yet to be able to pile back in to risk assets. Currently we think it's a good idea to short these Crypto names as long as they are in a bearish trend as long as the most important part of our strategy: The Reward to Risk Ratio is appealing.

Comment:

We suggest moving the Stop Loss to a better position closer to breakeven. The short on BTC especially while using equities to trade it will take some time and patience. Depending on your strategy, you can also get out and re-enter at a later time or in an alternative such as BITO, BLOK, MSTR depending on the Resistance level. We might post an accompanying trade for this play.

Comment:

Good place to take profit or trail your stop much lower and closer to current price.

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