Weekly chart Coin Base ( NASDAQ:COIN ) has completed the famous Reversal Pattern that's Head Shoulders. Coin Base is trading around $78 NASDAQ:COIN has resistance ahead $85. It needs to close above that price to confirm for uptrend. Let wait and see what will happen
I'm still new to this, any additional comments to help me out would be appreciated!
Price has already broke out of the neckline of the head and shoulder pattern. let's look for a retracement that will give us a better opportunity to go long.
Price is being rejected by the Weekly resistance zone and the upper channel. The formation of the head and shoulder pattern also indicated that the bulls failed in creating a higher swing high. The RSI is showing a divergence. We want to take a sell position when we have a confirmation to go short.
HARMONIC PATTERN + HEAD SHOULDER FORMATION + TRENDLINE BREAKOUT = HIGH PROBABILITY OF SELL PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
ENTRY SETUP: 1.17317// SL: 1.17087// 1.1769
Shoulder head Shoulder Pattern. it broke the Neckline. Looks like it goes down.