💾 Coinbase | Looking At The Current Correction, Is It Over?
Coinbase (COIN) remains really strong but the correction is significant, a 39% drop in 10 days.
The drop stopped right above EMA50 also matching the 0.618 Fib. retracement (golden ratio) level of the bullish wave that lasted exactly one month from 6-Jan. to 6-Feb.
If the market is set to move higher as we strongly believe will happen, this should be the end of the correction.
Not just the size but also the speed, fast drop, matches perfectly the type of market action we are having.
After a strong bullish wave that is set to continue, this is the exact type of correction that one would expect.
We have confirmation from other charts... TSLA just published.
Expect 168 next and 52 as the main strong support if the bulls fail.
Prepare for the worst, hope for the best.
Namaste.
The drop stopped right above EMA50 also matching the 0.618 Fib. retracement (golden ratio) level of the bullish wave that lasted exactly one month from 6-Jan. to 6-Feb.
If the market is set to move higher as we strongly believe will happen, this should be the end of the correction.
Not just the size but also the speed, fast drop, matches perfectly the type of market action we are having.
After a strong bullish wave that is set to continue, this is the exact type of correction that one would expect.
We have confirmation from other charts... TSLA just published.
Expect 168 next and 52 as the main strong support if the bulls fail.
Prepare for the worst, hope for the best.
Namaste.
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