💾 What Is Coinbase Saying? 218 Target Long-Term

18 giu 2023

Mid to long-term, we are bullish and that's for sure. The only uncertainty remains for the short-term.

For example, on the weekly timeframe we can see the inverse head and shoulders pattern forming, a classic reversal pattern:

Notice the strong bullish bias on the weekly RSI that bottomed May 2022:

The bulls have that going for themselves, a strong 2024 regardless of the short-term.

Now, moving to the daily timeframe, the main chart above, first we notice the signal mentioned in the previous trade idea which is the high volume 6-June marking a low.

The current structure is a bullish consolidation phase within a long-term higher low.

Then we have these gaps that work for us as targets.
Thanks to these gaps I was able to predict Tesla's (TSLA) recovery perfectly, not sure if you followed back in January 2023. The same situation here...

If you have doubts short-term, I understand, we can't really know where it will go but, the long-term is 100% clear, the bigger picture is UP!

Thank you for reading.
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Namaste.