A key Rising Wedge has formed on COIN. Analyze the breakout level now.
Reversal pattern. Price likely to break downwards.
Gradual reversal from bearish to bullish.
Bullish continuation if preceding move was up.
Indecision. Widening then narrowing range.
Technical analysis of Coinbase (COIN) reveals a significant setup. The stock is trading at $192.87, up 0.82% on the day. The primary technical feature is a Diamond formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $222.35, targeting $281.57 with support near $192.74 (R:R 2.0).
What is your outlook on COIN?