$COIN back to $60ish and then $100+?

6 Jul 2023

COIN looks like it's forming a rejection candle right at resistance. If you look at the structure, we broke out of a bottom formation and I think we're likely retesting the structure before a continuation higher.

What makes most sense to me is to retest the 60ish area as support and then continue onwards to $100+.

In order to do that, price would need to finally break above $76. But with 3 rejections already, I'd imagine the next time it gets up there, resistance will break.

Let's see if it plays out.

12 Jul 2023

Catatan

Went higher in the short term, but still think this will play out. I took $60 puts for July 28th.

Let's see if they hit.