Coinbase comes in at $30 πŸ»β“

NASDAQ:COIN   Coinbase Global
πŸ‚ On both the weekly and daily charts, the Stochastic Momentum Index (SMI) oscillator is in an interesting buy region.

πŸ“ˆ Daily chart:

On the daily chart, there was a πŸ»πŸ”« bear trap signal.
I think a possible target is at $41.89.
In this troubled region marked in the yellow rectangle, there will be a window of opportunity for πŸ“‰ shorts, with a target of $30.

⚑Volatility contraction

πŸ“ˆ Weekly chart:

πŸ“ˆ Daily chart:

The 21-period normalized ATR indicator on both the daily and weekly charts is showing a contraction in volatility.
Touching the 21 average with the possible breakout could signal a strong move, independent of direction.


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