Primarily, COIN should turn toward an imminent countermove to the upside, although that rebound should fade below the resistance at $291.50. Once the associated top forms, we anticipate renewed selling pressure, which should allow the ongoing larger correction to eventually complete below the support at $138.45. In our alternative scenario, price could also rally directly above the resistance at $291.50 as part of a magenta upward impulse (probability: 30%).
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.