COINBASE Bottomed and turning bullish for 2 months.
Coinbase (COIN) completed a 2-day green streak following a Lower Low within the Falling Wedge, which is technically the Bearish Leg of the 6-month Channel Up pattern that started on the October 27 2023 Low.
By tomorrow the 4H MA50 (blue trend-line) would have crossed below the 4H MA100 (green trend-line), forming a Bearish Cross, which is a pattern last seen on February 02 2024. The stock bottomed 2 days later, above the 4H MA200 (orange trend-line), which is currently at.
In contrast to the stocks Lower Lows, the 4H RSI formed Higher Lows, which is a Bullish Divergence, the same kind of pattern it completed on February 05. Technically, once it breaks above the 4H MA50 again, we will have a confirmed Bullish Leg (dotted) at its very start. The last one reached the 1.786 Fibonacci extension, so we are targeting at least $370.00 on this run.
It is worth noting that there is a high degree of consistency in the frequency on the Highs and Lows of the Channel Up, which is clearly shown by the Sine Waves on this chart.
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By tomorrow the 4H MA50 (blue trend-line) would have crossed below the 4H MA100 (green trend-line), forming a Bearish Cross, which is a pattern last seen on February 02 2024. The stock bottomed 2 days later, above the 4H MA200 (orange trend-line), which is currently at.
In contrast to the stocks Lower Lows, the 4H RSI formed Higher Lows, which is a Bullish Divergence, the same kind of pattern it completed on February 05. Technically, once it breaks above the 4H MA50 again, we will have a confirmed Bullish Leg (dotted) at its very start. The last one reached the 1.786 Fibonacci extension, so we are targeting at least $370.00 on this run.
It is worth noting that there is a high degree of consistency in the frequency on the Highs and Lows of the Channel Up, which is clearly shown by the Sine Waves on this chart.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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