Coinbase Global
Long

Coinbase shortterm bounce opportunity

172
This is beaten down. So much so, that it’s beaten down on many time frames. In my book it’s a contrarian opportunity here. My indicator tells me the same.

The COIN stock is showing oversold conditions based on momentum indicators.
• The 3H chart suggests a potential reversal or at least a short-term relief bounce.

Timeframe Analysis

Short-Term (3H - Intraday to Few Days)
• Current Price Action:
• Price is hovering above a strong liquidity zone near $246-$250.
• The stochastic-based oscillator at the bottom is in the oversold region with blue triangles indicating potential buying interest.
• Previous Break of Structure (BoS) & Change of Character (CHoCH) events confirm short-term trend shifts.

Key Levels to Watch:
• Resistance: $270 (previous rejection), $280-$285 (key range high).
• Support: $246-$250 (buying zone); a break below could send it toward $234.
• Short-Term Probabilities:
• Bounce to $270: ~60% chance if support holds.[
• Break below $246: ~40% chance leading to $234-$236.

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