$COIN daily chart sitting at a fork in the road. Clean breakout from the August base around $145, but rejection at $194 and RSI cooling off suggest the first leg up may be correcting now.
Immediate support: $176–179
Stronger support: $170–173
Breakout support: $164–166
Key resistance: $190–195
Higher targets if $195 breaks: ~$205, then $215–220
My read: near-term consolidation or pullback toward $170–176, then another run at $190–195. Daily close above $195 would materially shift the structure bullish.
Bearish scenario: the entire move from ~$146 to $192 was a complete five-wave impulse. RSI hit overbought and rolled below average — warrants some caution. Losing $170 exposes $164–166; losing that opens the door to a deeper retrace toward $150.
Bottom line: short-term neutral/corrective, medium-term cautiously bullish above $164–170. I'm not chasing $178 — better risk/reward comes from a clean support test or a confirmed close above $195. Stay patient, respect the structure.
Immediate support: $176–179
Stronger support: $170–173
Breakout support: $164–166
Key resistance: $190–195
Higher targets if $195 breaks: ~$205, then $215–220
My read: near-term consolidation or pullback toward $170–176, then another run at $190–195. Daily close above $195 would materially shift the structure bullish.
Bearish scenario: the entire move from ~$146 to $192 was a complete five-wave impulse. RSI hit overbought and rolled below average — warrants some caution. Losing $170 exposes $164–166; losing that opens the door to a deeper retrace toward $150.
Bottom line: short-term neutral/corrective, medium-term cautiously bullish above $164–170. I'm not chasing $178 — better risk/reward comes from a clean support test or a confirmed close above $195. Stay patient, respect the structure.
