💾 Bitcoin, Coinbase & TeslaWe will go into Bitcoin monthly next but let's make a quick stop first and take a look at Coinbase and Tesla.
Recently I mentioned Tesla (TSLA) as a leading market indicator.
It moved first on the crash and it also moved first on the bounce/recovery, and thus we can use this stock to know what the rest of the market will do.
Then we have Coinbase (COIN), a publicly traded Cryptocurrency company.
Say what you will about their methods but like Binance, they are (1st) one of the only few options available around and (2nd), a true force in this game.
We can like them or not but regardless of that we have to admit that they play a most important part in this market.
As the Coinbase stock went bullish the entire market went bullish, as Bitcoin goes bullish Coinbase goes bullish.
Yesterday we had a full green candle on the COIN stock.
- This candle recovers 5 previous days that this stock has been closing red.
- This same candle is also pushing the stock back above EMA10 which switches the short-term potential from bearish to bullish.
- This move is supported by rising volume, above the daily average.
- Another point in favor is the RSI staying above 55.
What these signals are pointing to is the potential end of the correction , the 0.618 and 0.5 Fib. retracement support levels have been activated and a bounce is already taking place.
This can lead to the next move starting soon, now.
- COIN can move above 100.
- It can move above 120...
- The next target is set at 144, more or less.
We wait and see of course.
Thanks a lot for the support.
Namaste.
