Coinbase Global

BULLISH Setup in COIN

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Coinbase daily chart shows a Wolfe wave setup before earnings. Due to the uncertainty around earnings and sentiment in BTC, which is currently trading under $42000, I am expecting price to attempt a rally post earnings. If BTC reclaims the 6 day ma then I may consider opening an early position in COIN in anticipation of a crypto rally. BTC rally would be one indication that coin may begin a rally. If I were to open long call contracts, I would consider 3 months dte strikes around $225. Based on today's price action, I am more inclined to sit tight and wait for post earnings results rather than anticipate a run up into earnings. Hope this helps.

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