COIN breaking multi-month support
Updated
COIN gapped down this morning below its all time and multi-month support level. This is negative for the stock up until it can recapture the $210 support level. We are looking for continued downside pressure, especially as the crypto markets continue their risk-off mode. At this point in time, none of the momentum indicators are showing signs of a slow down, so our bias is to the downside here. Entered on the open today. Stop is placed right above today's highs. Note
Stop moved to slightly higher than today's highs ($181) on this price action.
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