Coinbase comes in at $30 🐻❓

٢٣ ديسمبر ٢٠٢٢

🐂 On both the weekly and daily charts, the Stochastic Momentum Index (SMI) oscillator is in an interesting buy region.

📈 Daily chart:


On the daily chart, there was a 🐻🔫 bear trap signal.
I think a possible target is at $41.89.
In this troubled region marked in the yellow rectangle, there will be a window of opportunity for 📉 shorts, with a target of $30.

⚡Volatility contraction

📈 Weekly chart:


📈 Daily chart:


The 21-period normalized ATR indicator on both the daily and weekly charts is showing a contraction in volatility.
Touching the 21 average with the possible breakout could signal a strong move, independent of direction.