$COIN - Playing in the Golden PocketOn the fibs, last time it went above .5, it went through the golden pocket and got rejected, then again, then it feel into a downard trend on the monthly. It's trying to break out of the downard regression, and is in the bullish channel, but is now facing rejection at the .5 fib again. Chance to break above and explore the golden pocket is possible, as well as a retracement to a lower fib level to consolidate more strongly to bust through it's original fib levels.
Both fib level support areas on the monthly give a great range to trade both sides as this stock figures itself out.
Earning coming up, and based on this last increase of crypto hype, coinbase is surely going to have strong numbers.
Coinbase is also doing futures now, so it will attract retail gamblers, which could hurt and help coinbase, pending if people don't lose all their money if they would have just gambled going long like "the good ole' days" of limited crypto.
For a hyper volatile market, new trading products serve to keep it volatile.
Long term, bullish. It's a more robust system with the same affinity as HOOD
Looking for longs and shorts to ride this thing on the way up
not trade advice
