Last time we looked at EMA55 expecting a break of this level as resistance, instead, we saw a rejection. Good news though, we have a higher low.
Last week COIN did a full red candle, this week the action turns green.
Since last time I was a bit too optimistic let’s be more cautious this time with the analysis.
Growth can happen but there is no strong confirmed bullish signal. The fact that support was tested once and remains unchallenged is positive and can lead to a full bullish impulse, just as it happened several times already in the recent past.
Additional bearish action can happen but it is not called for. The higher low appeared around the 9-Feb week open—see the blue line.
Four green weeks followed by three weeks red. If COIN is going to grow, it is now or never. Either we see green this same week followed by higher or we get a bearish resumption.
Namaste.