Coinbase(COIN) Recovered Before sued by the SEC

4H

- Touch the Long-term downtrend line (thick line)
It's a strong resistance, so even if it comes down a little, I think it will get support near the blue box and try to break through the long-term downtrend line again.

1D

- It seems to have a reverse head and shoulder pattern.

Commento:

- 1H

It came down to the top of the blue box and broke the long-term downtrend line.

Commento:

It's up more than 17%.
It looks very bullish.
As it broke the long-term downtrend line that has continued since November 2021
There is a very high possibility of further rise.

Commento:

It broke the strong resistance of $87.5 and is about 48% more beneficial than the previous analysis.

It's very meaningful that the red box broke through this section as the resistance that worked strongly for about a year.
Now this red box is likely to act as a strong support.

The next resistance line is $112.

Trade chiuso: obiettivo raggiunto:

all short-term targets have been reached

Commento:

As I said before, the red box became a strong support and reached $112.
86% profit.

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I will now continue updating new comments from Coinbase analysis posted recently.