NASDAQ:COIN gapped down this morning below its all time and multi-month support level. This is negative for the stock up until it can recapture the $210 support level. We are looking for continued downside pressure, especially as the crypto markets continue their risk-off mode. At this point in time, none of the momentum indicators are showing signs of a slow down, so our bias is to the downside here. Entered on the open today. Stop is placed right above today's highs.
Comment
⋅
Stop moved to slightly higher than today's highs ($181) on this price action.