📊 COIN 168 Next Target | Bullish Bitcoin Correlation Confirmed

18 paź 2023

Coinbase stock COIN has been keeping a very clear bullish pattern.

We forgot to track this stock when predicting Bitcoin's current bullish breakout starting early October. We looked at Gold, the SPX, DXY, the Altcoins market and other signals all related to Bitcoin but forgot COIN, which is another good chart to look at due to its positive correlation with Bitcoin.

Let's start by noticing that there is no bullish breakout yet on this stock while Bitcoin clearly went ahead but COIN is trading above EMA50, EMA21 and EMA10, thus the bullish bias confirmed short-term.

The pattern has been: advance, consolidation, advance, consolidation...

We are now seeing another consolidation period within a higher low, all signals bullish, so it is easy to predict that COIN will go up.

👉 The main target is 168 but long-term there will definitely be more.

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30 lis 2023

Uwaga

This is growing nicely, but nothing moves up in a straight line.
There can be retraces and corrections, higher lows, before our target is reached.