I find Coinbase very interesting right now, especially since we’ve likely completed Wave 4 around the $240 level. Since then, price has been stuck in a sideways consolidation, following an unfilled breakout gap after Wave 4 ended. This gap is still open, and I believe there’s a strong chance we’ll at least partially close it.
From a market cycle perspective, we’re currently in the accumulation phase, followed by the manipulation phase (red), and then the distribution phase (green). My plan is to target that distribution phase, aiming for the gap closure.
I’m placing a limit order roughly in the middle of the gap, just above the Yearly Open, which I expect to act as support. The RSI is still low—not oversold yet—but there’s some room for more downside before the entry triggers.
The limit order is set at around $259, with a target of at least $326, offering solid reward potential—exactly the kind of setup I’m looking for.
🔹 Asset: Coinbase
🔹 Timeframe: 1H
🔹 Entry: 259.36
🔹 Stop: 244.25
🔹 Target(s): TBA
From a market cycle perspective, we’re currently in the accumulation phase, followed by the manipulation phase (red), and then the distribution phase (green). My plan is to target that distribution phase, aiming for the gap closure.
I’m placing a limit order roughly in the middle of the gap, just above the Yearly Open, which I expect to act as support. The RSI is still low—not oversold yet—but there’s some room for more downside before the entry triggers.
The limit order is set at around $259, with a target of at least $326, offering solid reward potential—exactly the kind of setup I’m looking for.
🔹 Asset: Coinbase
🔹 Timeframe: 1H
🔹 Entry: 259.36
🔹 Stop: 244.25
🔹 Target(s): TBA
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Sharing all my setups and thoughts on Crypto & Stocks there
🏆Telegram - t.me/stromm_trading
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.
Join me for free on my journey ⚡
Sharing all my setups and thoughts on Crypto & Stocks there
🏆Telegram - t.me/stromm_trading
Sharing all my setups and thoughts on Crypto & Stocks there
🏆Telegram - t.me/stromm_trading
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.