Coinbase

Price has officially entered into my target box today. I still feel we have lower to go before this is over though. I would like to see us hit the 1.0 @ $204.65 before turning back higher. I can think of several things that could support a move higher such as the SEC dropping its case against COIN. However, we have crossed into wave 1 territory, which is the minimum needed for the larger ED I have been tracking.

We created some neg div on the hourly chart today too. As you can see, price made a lower print today than last December and MACD is reading a higher print. Is this hinting that more downside is coming? I believe so, and I believe the 1.0 @ $204.65 is the ideal place for price to turn around at. I have an alert set @ $205 and will likely look at placing an order around this area.