$Coinbase Global, Inc.(COIN)$

$Coinbase Global, Inc.(COIN)$ More bearish patterns have formed since the time of the previous analysis.

We now have a head and shoulders pattern. Head and shoulders usually go to at least 1.61 extensions of the head. This is a bit under 180 in COIN, so I am buying puts for that strike.

I think this may have a bit of a rally from this area but if we do I'm going to short call spreads into it.

Stops on the setup are 234.

Calls sold into rally.

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Comments

predator007
05-10
predator007
Good luck with your trades!

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