COIN: Setting up neatly with crypto tailwindWhat I like
- Bullish Pendant breakout on the daily timeframe.
- Tailwind from crypto sector. Trump is in favour of crypto. I track the relative strength of 60 over sectors, see attached excel, and crypto sector (BLOK) is one of the strongest
- Cup and handle formation
- It is a healthy chart. Burst higher -> consolidation -> burst higher. Repeat
Trade plan
- Intend to hold this for a longer period. I have initiated a small position in today's breakout (~293). Wait for the full cup and handle formation, and add on shares when it breaks out again.