Coin iS TinklingHi friends, Sharing weekly chart of Coinbase global. So as you can see that i identified an Ascending Triangle breakout pattern in it on weekly chart and below i am sharing some insight and key factors about this breakout which i analyzed on provided chart, hope you like my presentation and give your valuable support to my publication mates.
So as we can see above on provided chart that price breached recent swing top and close above and it is highest clsoing after 17-18 months by the price too so i assume that we can see some bullish moves in this counter in coming weeks Guys.
Analysis points- You can see that before this breakout price started making higher lows and gradually moved out towards breakout zone and made a higher high pattern too by recent two swing tops, before this higher low formation when price was in lower lows trend i observed that Rsi making higher highs formations so we can say that it was bullish divergence too by rsi at that time and we can say that price just started the resumption of uptrend from there.
Targets- Target i identified for this long trade by two ways, one is very simple i am taking resistance target and for the second i meausered height of Triangle from swing top to swing bottom and find out amazingly that both targets indicating almost the target zone, so taken target zone seems very logical for me friends.
Breakout Retest Levels- 105
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” -Mark"Douglas
