We began this retrace on 29 Dec of last year and thus far it has been pretty standard. This b wave we are in is one of two things, over or complex lol. We did tag the bottom of my upper target box, but just barely. Technically speaking we could be in our wave c of (4) right now, but due to MACD and the structure price has carved out, I believe we are still in C of b of (4).
Once we breach $144.12 to the downside, we will have created a new low and have confirmation wave c has started. Until that price is breached, we can still rise in b, and I will be looking to the 0.618 fib @ $169.83 as a resistance line to bounce off of. Once c starts, we shouldn't fall below $114.39. If we do, then we are most likely dealing with something else aside from a wave 4.
These are the price levels I am watching, and what I will use to help guide me in determining our place in the count. With the way I am counting other stocks, I don't think it is too much of a stretch to think Coinbase should finish this wave b by the end of the week. As y'all know though, I don't predict time, so that is just conjecture as of now.
Once we breach $144.12 to the downside, we will have created a new low and have confirmation wave c has started. Until that price is breached, we can still rise in b, and I will be looking to the 0.618 fib @ $169.83 as a resistance line to bounce off of. Once c starts, we shouldn't fall below $114.39. If we do, then we are most likely dealing with something else aside from a wave 4.
These are the price levels I am watching, and what I will use to help guide me in determining our place in the count. With the way I am counting other stocks, I don't think it is too much of a stretch to think Coinbase should finish this wave b by the end of the week. As y'all know though, I don't predict time, so that is just conjecture as of now.
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b appears to have been shallow. There is a chance this has all been apart of wave a as represented by the turquoise count. If my primary count is correct we have begun to head down for c
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Just saw aftermarket data. looks like b is starting and my alt is correct. if it hits the 0.618 tomorrow and looks complete, I'll probably buy a put or two
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With the approval of the btc ETF's, it could affect the value of coinbase. Rather that be short term or longer term remains to be seen. For now, i will just observe what happens. If I make any trades involving coinbase I will post them here
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Due to the BTC ETF finally being granted approval by the SEC, Coinbase finally got the b wave we've been waiting for. It popped up to the 0.5 fib retracement and then started to drop again today. Since we have an a-b wave complete, I have refined my c wave target. It just so happens to fall right in between the 0.382-0.5 fib retracement fibs. This is an "ideal" spot for this wave 4 to end. We now must use structure to guide us to call the bottom for this wave (4) retracement before the upward trend continues.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
