$290 climb or further downside?
ที่อัปเดต:
BLUF: COIN may run to $290, $305 upon break to upside of bearish pendant. Or if COIN closes below $270, further downside with $250 and $220 targets, respectively.
When I analyze charts using technical analysis, I search for trend lines, support & resistance, divergences, and patterns (not necessarily in this order). I also analyze multiple time frames including the 15m, 1h, 2h, 4h, daily, and weekly candles with the premise that higher time frames give the “big picture,” or the overall trend, while the “smaller timeframes” provide details about price action, momentum, and identify key areas of entries/exits. My goal is to trade with the dominant trend, but only at key support areas or pullbacks to maximize my profit.
In the case of COIN, I assess the following:
Weekly: Bullish
Daily: Bearish
4H: Bearish
Happy Trading!
When I analyze charts using technical analysis, I search for trend lines, support & resistance, divergences, and patterns (not necessarily in this order). I also analyze multiple time frames including the 15m, 1h, 2h, 4h, daily, and weekly candles with the premise that higher time frames give the “big picture,” or the overall trend, while the “smaller timeframes” provide details about price action, momentum, and identify key areas of entries/exits. My goal is to trade with the dominant trend, but only at key support areas or pullbacks to maximize my profit.
In the case of COIN, I assess the following:
Weekly: Bullish
- Upside breakout from a cup + handle pattern.
- Pullback from $350 area after several negative divergences.
- Two rejections around the $260 area, a 38% retracement, establishes support.
- ADX and DI indicate a strong bullish trend
Daily: Bearish
- Bearish pendant forming.
- ADX and DI indicate a strong bearish trend
- Several positive divergences
- Two rejections around the $260 area, a 38% retracement, establishes support.
4H: Bearish
- Bearish pendant much clearer.
- ADX and DI indicate a strong bearish trend
- Several negative divergences
- Trend support around $263
Happy Trading!
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$250 Target Reached.
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