COINBASE: Forming a Top. Selling gains momentum.

22 Mar

Coinbase is on a bullish 1D technical outlook (RSI = 64.977, MACD = 22.160, ADX = 33.325) but at the top of the Channel Up. The 1D RSI Bearish Divergence on LH suggests that a similar top is close to getting formed (or already has) like on December 28th 2023. All major corrections since 2023 have been at a -39% minimum and reached always the 0.5 Fibonacci from the bottom. Consequently, we are now bearish on COIN, targeting the 0.5 Fib (TP = 185.00) where we will turn bullish again aiming for the Channel's top (TP = 350).

See how our prior idea has worked out:

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