Nothing has changed from last week's Coinbase post. I feel this is most likely corrective action and we have one more slight low to make. If this is the case, then we need to make another slight high to finish this c wave before making that slight low. Once this is complete, we then take off for our next push higher. The next target is $190 at the minimum.
If this is not the correct count, then the alternative is to drop down to sub $100 easily. With Coinbase being one of the main custodians of crypto in the US, and crypto obviously in a new bull rally, I find it highly unlikely this has all been a giant ABC signaling those lower prices. IMHO, I don't think Coinbase will ever see sub $100 prices again unless something extremely unforeseen happens or the SEC starts a war with them.
If this is not the correct count, then the alternative is to drop down to sub $100 easily. With Coinbase being one of the main custodians of crypto in the US, and crypto obviously in a new bull rally, I find it highly unlikely this has all been a giant ABC signaling those lower prices. IMHO, I don't think Coinbase will ever see sub $100 prices again unless something extremely unforeseen happens or the SEC starts a war with them.
Comment:
Decision time for COIN. MACD is currently suggesting this is a mini c wave. Could be the start of our next impulsive wave though. If MACD continues to rise with price or price drops out that'll be our answer/guide.
Comment:
Price hit my trend line. I want to see MACD on the micros breach my red line
Comment:
MACD on the 3min chart looks like we need another low. MACD on all the larger timeframes suggest the bottom is in and we have started to head higher for our next impulsive move. The next couple days should provide us with a clearer picture.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
