💾 Coinbase Global, Goes Bullish | Next Target Mapped (120%)

Looks like the bleeding is over for Coinbase (COIN) and this is definitely good news.

Not because of Coinbase itself but because this matches the reversal signals we are seeing on Bitcoin and the Altcoins.

Coinbase is part of crypto.
Coinbase starts to recover.
Crypto starts to recover.
Bitcoin starts to recover...

What I mean is that this stock going bullish at the same time work as a confirmation signal.

A low was hit 28-Dec.
All the major cryptocurrencies also hit a low late December.

Yesterday we saw a full green candle, increasing volume and the RSI trending upwards.

Here is what we can expect, we are going to be looking at this mid-term.

The first target will be $63.96.

Yes, there will be resistance at $45 where EMA50 sits right now but the Fib. numbers are more relevant than the moving averages to us.

The main target should be around $83...

We have until late March for this move to fully develop giving us potentially higher targets but who knows... This is what looks do-able based on the signals coming from this chart.

The whole thing/analysis/setup is invalidated if COIN moves and closes daily/weekly below $31.

By the way, hitting $83 would mean more than 120% on this bullish wave.

Namaste.

Comment:

$50M Fine in New York and $50M investment for compliance... Positive or Negative?

I take it will turn out "positive" short-term.

Trade closed: target reached:

This trade idea is complete and we reached our main target.

For updates you can visit my profile and search for NASDAQ:COIN.
There you can find all the trade ideas I publish about Coinbase.

Additional growth is possible.

Thanks a lot for your support.