At $241, Coinbase recently reached a new local low, after which the price surged an impressive 17% at its peak. Thus, we now consider the blue wave (iv) as complete and locate the stock in the blue wave (v), which should push to new all-time highs to complete the larger wave [iii] of the ongoing magenta upward impulse. However, this upward trajectory will be postponed if COIN encounters selling pressure and falls below the support at $224. We assign a 33% probability to this alternative scenario.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
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.