Coinbase Update

I added some fibs onto the chart now that we have some more price action to the downside. Notice how we came $0.06 cents from the 1.618 extension and then retraced? This is a sign that the first mini-A wave is most likely complete, and we should raise higher towards the box for the mini-B wave. We don't have to raise all the way into the box but that would be considered a standard move.



MACD also made a new local low today helping to reinforce this is an A wave of some degree. If one were to want to try and trade this retrace, a HARD stop of $253.90 should be enacted. I myself am not going to try and long it as B waves are risky trades, but a standard move should see price bounce around $15-$20.