Coinbase Stock Price Rally Putting In Bearish Reversal?
The past 15 months have been very good for Coinbase’s (COIN) stock price.
During that time, COIN has rallied from $31 to over $230. And the rally has seen some wild volatility!
Today’s “weekly” chart of Coinbase highlights this and more. As you can see, COIN has been in a wide up-trend channel for the past 15 months. And it recently touched the top of the channel at (1) before reversing lower.
This is NOT an ideal price point for a high-flying Coinbase stock price to create a bearish reversal!
Should the price finish the month here or lower, it would send a cautionary message to Coinbase stock bulls!
A breakout here would be VERY BULLISH for $COIN!!!
(Click on image to enlarge)
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