Saw COIN looking toppy and it played out perfectly- the crypto rally isn’t over yet though and COIN is one of the better proxy plays for capturing the bullish price action we’re in crypto. Short off the top layer off nicely but the RSI is indicating that crypto nor COIN upside is done. The bullish divergence seen in the RSI should provide some decent upside at...
COIN is running hot.
The ride so far is phenomenal, but also way too quick for my liking. This can be seen on the RSI, which is super hot right now.
A nice Long-Confirmation is the fact that Volume on the weekly chart did increase nicely.
The red resistance got peeked twice now.
It's exactly where price broke down last time and traders where puking their...
The price will attempt the weekly resistance zone in coming days. I think there will be a pullback on this test and price will fall back to the weekly support marked in green. However, hitting that support will be a bounce which will pave the way to break the weekly resistance.
However, lets stick to the first step of price reaching the weekly resistance. We will...
from a macro perspective, we think 2023 could be a great year for swing positions. one of the ones that really sticks out is $coin.
huge valid bull div on rsi.
just closed out the gap. this should run up for most the year.
should long and add on any dips.
Sitting at support with price unable to close below the window top at 82.25. If the window holds might do a retest of 100 - then 105 and 113. if the window fails, look for support at 21/50 EMA 1D or worst case scenario down to 62-50 area..
Gap will be filled, on LTF 1 min & 5 min a nice reversal pattern is forming. I expect crypto to stabilize at current levels letting coin recover slightly.
Just crossed above the EMA cloud on the hourly timeframe. PT set at a 2RR just to be safe. SL set right below 100EMA just in case a potential bounce off.
Happy Holidays and Trading everyone!
Stefan
Owner of A-Stock Trading
Overall EW count I’m doing:
Green = after a completed ABC count in White, I’m counting that as “1” at $368.88. Looks like a deep wave “2” retrace down to the .786 Fib around $245. Above $245 I believe it can start a new impulse wave upwards in the rough sketch layout in blue
--> Target upside $368; $423; $600 stretch
Blue = in nearer short term, think we can...
