Huge inverse head and shoulders is visible which has played out over the recent crypto bull market and we could be in a nice up trend channel. The question is can the market sustain us continuous momentum, or is it time for more legs down first.
Resistance at $110. Maybe $140 next then $170 OR we head back down to $87 to build some more momentum.
The price will attempt the weekly resistance zone in coming days. I think there will be a pullback on this test and price will fall back to the weekly support marked in green. However, hitting that support will be a bounce which will pave the way to break the weekly resistance.
However, lets stick to the first step of price reaching the weekly resistance. We will...
- CoinBase is one of the most popular crypto exchange in the world and that's why it's good to track the price of the stock.
- As per my Elliott wave technical analysis - we have completed the impulse wave successfully and now I am expecting at least a retracement to 0.618 FIB / Red horizontal resistance.
- If we take a look at the RSI indicator, we can see a...
coinbase stonks hinting at a break out with the rsi and obv both breaking out price either lagging or we get a swift rejection and the rsi obv were bulltraps
looks unlikely to me given the state of btc.dominance and btc and eth/btc
bitcoindominance bearish? mini alt rally?
btc and eth btc looking bullish still
confluence says coinbase breaks this downtrend line...
Lets see how this works out, we are at the crossroads. We need to break the neckline to regain bullish momentum, there's no chilling around at these high prices as there is no decent support. First major support is around the inverse head and shoulders neckline around 59,6K.
IMPORTANT: this is not financial advice, trade or invest at your own risk and research.
BTC already broke support once, if it revisits the lower end of the wedge and breaks the support in the RSI; BTC will correct. If so; I have the following targets on where we could find support. If we break beyond target 1 and 2, we could free fall towards mid 50's to even mid 40's. Coinbase premarket was dumped from 556$ to now 448$, only if the stock regains...
![COIN: [Coinbase] bullish](https://s3.tradingview.com/a/Atg2WOq0_mid.png "[Coinbase] bullish")
