COIN LONG = Ascending Megaphone Pattern
Updated
COINCOIN downrended from November 2021 to later July
loosing 85% of its price along the way. Having completed
its reversal, it is now up trending in a megaphone pattern
reflecting increasing volatility. Relative volume has increased.
I have plotted in mid-Fibonacci levels.
I see this as a swing long setup, and will take the trade
setting up the stop loss as the market low late July.
Targets include the Fibonacci levels as well as where
price hits the mid=line of the megaphone where it could
break through or bounce in this high volatility zone.
I will leave a runner to see if price can eventually reach
the late 2021 price level especially if the crypto market
undergoes a resurgence.
Trade active
COIN is up 4% for the Monday morning trading. Stop Loss moved to breakeven it is now a free trade that cannot be a loss.Trade active
COIN had a decent 2 % day showing good strength as compared with the general market. The option is up nicely and I anticipate taking a partial on Thursday or Friday.Trade active
COIN has had a great week- up almost 30% on a four-day week. Calls exploded.Disclaimer
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