COIN has already delivered a strong reaction from the lower target zone and completed a clean internal ABC rally into the 4H objective above.Now price is back inside a key WCL reaction area, and this is where the chart gets interesting.
The way I read it, this is a true decision point:
- Bullish case: this WCL holds, buyers defend the area, and price rotates back higher toward the recent premium zone.
- Bearish case: this WCL fails, and the entire bounce starts to look like a corrective move inside a broader bearish structure, which puts the lower red target region back on the table.
What matters most here is context.
Yes, price reacted well from the deeper discount zone.
Yes, the internal bullish sequence already delivered.
But no, the bigger picture has not fully repaired itself yet.
That means this is not the kind of chart where I want to get emotional and call an instant reversal. This is a reaction zone first. Confirmation comes after.
For me, the clean read is simple:
The local structure says support is trying to form.
The higher-timeframe structure says bearish pressure still exists.
So the next move should be judged by what happens here, not by what traders hope happens next.
If buyers can protect this WCL and reclaim momentum, upside continuation becomes reasonable.
If not, the downside draw remains valid.
Key takeaway:
Completed bullish delivery into target.
Now back at WCL.
This level decides whether COIN builds a real base — or rolls back into discount.
Disclaimer: This is not financial advice. It is a chart-based opinion built on price structure, context, and reaction zones.
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.