Technical Analysis on COIN
We have today, gapped up to break past COnsolidation.
This is a sign we may have started our next rally to higher highs.
COnfirmation will be required however, where we test support on the upper border of the Consolidation range. ($90)
If this doesnt hold look to:
Red Resistance now Support line
Horizontal Black line at $84
VOlume continues to steadily INCREASE, necessary sign to help provide liquidity for move up.
RSI hitting Overbought terroritory. Keep in back of mind, there is plenty of room for buying to continue.
STOCH RSI, is also looking like Bullish momentum will continue little longer.
BUT do pay attention to Bearish cross down and more importantly if the Bearish cross goes below 80 level, this will trigger selling. Which will lead our price to test our support levels to actualize this current Jump up.
I have taken a little profit so far. ANd i recommend doing so, since COIN showing signs of being a BUY the dip type of asset.
But i think this current move can reach $110-115 possibly, which is a major resistance area and coincides with previous high after neckline break.
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