COINBASE: Be ready to buy if it crosses the 1D MA50. Target $360

4 ott

Coinbase is neutral on its 1D technical outlook (RSI = 46.702, MACD = -4.680, ADX = 25.125) as after last Friday's (Sep 27th) rejection on the 1D MA50, it hit the bottom of the long term Channel Up and is consolidating. In similar instances inside this pattern, such consolidation was the formation of the new bottom of the Channel. A bullish divergence on the 1D RSI usually accompanies this formation, which is what we have now also. Consequently, if the price crosses over the 1D MA50 now, it will be the trigger buy signal. The target may be a minimum of +144.73% rise (TP = 360), as all prior rallies achieved at least this rise.

See how our prior idea has worked out:

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