Coinbase Update: Bottom looks made

Looking at MACD and the structure price has carved out, the bottom appears to be in. We still don't have confirmation though. That comes once we make a new high above $187.97. At this time, we have positive divergence not just on the micros but all the way up to the 4HR chart with the daily starting to weaken signaling a change in trend. Also, we bounced off the lower trend line and started to move higher.

We could technically make another low, but we don't really have much room to fall. As I said in my last post, $114.41 invalidates this count. The first big clue we should see if the bottom is in is a breach of the 0.618 fib @ $138.41. I doubt we get that tomorrow, but I think we should get it this week. As of now, I only have 10 shares but will get more once we have more clues pointing towards confirmation. We have plenty of time as I expect us to head towards $190 at a minimum. Obviously, it won't be a straight line towards my box, but it should be a 5-wave move.

One last thing, who noticed Citigroup raised their price target from $90 to $151? Quite the big jump, wasn't it?


Current Coinbase Assets:
10 shares