Coinbase Update

Jan 15, 2024

The price action to me, in regard to Coinbase, seems obvious. The action since our top of $187.97, has been corrective without a doubt. We have since carved out the a-b waves and currently headed towards the end of this c wave IMO. We dropped last trading session pretty hard and paused at the larger 1.0 extension & 0.382 retracements fibs. The hard drop is a hallmark of a c-wave as I have stated in the past. I still feel we have a little lower to go according to my target box, but Coinbase is building positive divergence on the micros and the larger timeframes. I don't want us to drop below the 0.5 retracement fib @ $114.39, or this is not likely wave (4), and I would need to return to the drawing board. Therefore, the two highest probability endpoints are the smaller 1.0 or 1.236 fibs @ $124.73-$116.96. I'm not saying we can't drop lower, but these are the areas I will be looking at for buying some shares and possibly calls. I will update with any trades made per the usual.

Friendly Reminder: Beginning March 1st (~7 weeks), I will be dramatically changing my posting schedule here on trading view.

Jan 16, 2024

Note

We entered the target box but just barely. We also haven't tagged the 1.0 yet. I don't want to be a stickler but we could easily drop again to fall a little further into the target box. If we did bottom/once we do, price should head towards the 1.618 fib at $242

Jan 16, 2024

Note