📊 Coinbase Bearish (70-80 Next Target)
Coinbase (COIN) produced a nice bullish wave which peaked 5-Dec. with a DragonFly Doji.
In July a bullish wave ending in a Doji preceded a correction, here we have a similar situation.
Based on the gaps, it seems it will be a strong correction.
👉 A 40% drop can happen easily pushing the stock to 100.
👉 It can go lower as a test of MA200 as support and hit 77, can be a bit higher or a bit lower.
There is room for even lower...
You can find additional details on the chart.
Namaste.
In July a bullish wave ending in a Doji preceded a correction, here we have a similar situation.
Based on the gaps, it seems it will be a strong correction.
👉 A 40% drop can happen easily pushing the stock to 100.
👉 It can go lower as a test of MA200 as support and hit 77, can be a bit higher or a bit lower.
There is room for even lower...
You can find additional details on the chart.
Namaste.
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