Coinbase - Potential Double Bottom?
Updated
COINThere is a potential double bottom setup:
- bottom zone at $208-213 range established on 19/May/21
- bottom zone touched on 22/Jun/21 and rebounded
- price broke up neckline at $250 on 29/Jun/21
- retested neckline as support on 30/Jun/21
Expect price to run up to next resistance level.
Possible plan to take advantage of this run:
- long when price break up high of 1st breakout bar ($261.15)
- stop loss just below low of retest bar ($247)
- target at least 2R profit near Pivot Point R1
Note
no entry. chart broke down.will see if price is able to get back up above $250 today.
if not, setup is invalidated.
Order cancelled
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