COIN – Breakout Setup With Dual Scenario

Technical Context:
COIN has been consolidating for several weeks and just broke above the range. The 20-MA has turned upward, confirming a renewed bullish bias. Today’s resting bar after the breakout creates an ideal continuation setup for a long entry.

Primary Trade Plan (Long):

Entry: Buy above the resting bar’s high (confirmation).

Stop Loss: Below the breakout candle’s low.

Target: New high (NH) above the recent swing.

Management: Move SL to breakeven after first push, trail bar-by-bar or by short-term swing lows.

Alternative Scenario (Short):
If price fails violently and breaks back below the breakout level, I would flip short with a target near the base of the consolidation (support zone).

Bias: Bullish while price holds above the breakout zone. Aggressive short only if a strong reversal invalidates the breakout.