Coinbase Update: 01/17/2024In my last post I said I thought that Coinbase should be getting another low ideally. This was due to a few reasons, but it appears we may just get that low soon as this little retrace appears corrective. Ideally, we need a mini-c wave higher to the $140 area to finish out this mini-wave 4. We would then drop in wave 5 of c towards the 1.0 @ $124.73.
Quite a few different tickers that I watch appear to point higher soon, rather for a retrace or to be finishing out their respective counts higher. Coinbase is its own chart though and seems to be affected by crypto much more than any other chart. Will this help it or hurt it? Time will tell but one thing seems certain, crypto is exiting its winter and seems to be starting a new bull cycle. With the SEC finally approving BTC ETF's and rumors of an ETH/XRP ETF coming in the future, it will surely get people excited. Coinbase more than any other stock stands to benefit the most. Time will tell.