Coinbase Global has completed a full wave cycle and is now positioned for a corrective leg toward the base of Wave 4, following a classic Elliott Wave structure. The unfolding scenario aligns with a potential ABC corrective move, with Wave A currently in development.
A strong bearish RSI divergence has also emerged price continues to make higher highs while RSI prints lower highs indicating underlying weakness and increasing the probability of a deeper retracement.
The strategic plan is to monitor for short opportunities or pullback zones as the market unfolds this corrective leg, with the base of Wave 4 serving as the target zone. All eyes on the momentum breakdown and support reaction.
💬 Share your views on this setup in the comments.
A strong bearish RSI divergence has also emerged price continues to make higher highs while RSI prints lower highs indicating underlying weakness and increasing the probability of a deeper retracement.
The strategic plan is to monitor for short opportunities or pullback zones as the market unfolds this corrective leg, with the base of Wave 4 serving as the target zone. All eyes on the momentum breakdown and support reaction.
💬 Share your views on this setup in the comments.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
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📩 Promotion/Partnership: t.me/WESLAD
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.