COINBASE about to start a rally to $550Coinbase (COIN) broke above its 1D MA50 (blue trend-line) again yesterday, but is practically still consolidating around it for the past 2 weeks. Still, it has already broke above December's Channel Down, which on the wider, long-term bullish trend, is nothing but a Bull Flag pattern, similar to January 2024.
As you can see, both patterns were initiated after previously a Falling Wedge broke upwards and above the 1D MA50 and on all occasions, the price increase has been significant, with the smallest being +139.50%.
As a result, being also on a 1D MACD Bullish Cross, we expect the stock to kick-start the new Bullish Leg soon. Expecting to register at least another +139.50% Leg from the recent Low, our Target is $550.
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