These days I dont give too many targets in advance but this one I will and potentially this is a very lucrative call.
The current limp ascending wave looks like it will connect another wave down to hit the 50 week MA that we have been eyeing up for some time and be a great buy between $60 - $65 within the 1:0.618 Golden Window.
It could extend down to the 1:1 but that it a stronger wave extension and if COIN is bullish in higher time frame then more likely it will be the weaker 1:0.618 GW that finds the low.
We'll see how it progresses and my clients will get regular updates.
This is not a short
Not advice.
The current limp ascending wave looks like it will connect another wave down to hit the 50 week MA that we have been eyeing up for some time and be a great buy between $60 - $65 within the 1:0.618 Golden Window.
It could extend down to the 1:1 but that it a stronger wave extension and if COIN is bullish in higher time frame then more likely it will be the weaker 1:0.618 GW that finds the low.
We'll see how it progresses and my clients will get regular updates.
This is not a short
Not advice.
Note
The limp connective wave broke as suggested but with Nasdaq bearish momentum increasing that has been reflected in COIN also gaining momentum into the third wave down.Considering this, there is now more chance that COIN will reverse at a deeper ratio if Nasdaq does the same.
Also if dollar pulls back then we may see a hard Nasdaq bounce so there are quite a few variables here. Nasdaq does look bearish now but in the past it often has high volatility "V" shape bounces.
On the chart we have three ratio bands that COIN will most likely reverse in. It doesn't have to of course but these bands that I call "Golden Windows" are the strongest phi related extension ratios with their overshoot ratios that when banded together very often capture pivots or if there are fast moves then sometimes the candle bodies but not the wicks will pivot within the ratio bands.
Let's see if one of them gets the catch.
Your FA guru can't read a chart💭
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Telegram Group: $50 per month✨.
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.