Chart of the day

COIN is reaching the most important resistance 190-200 zone and a rejection from here will lead to a deeper pullback into 150. Only a clear confirmed break above 208 will lead to an extension higher.

A rejection here will lead to a pullback in the fourth wave 130. We need to see a clear confirmed break below 172 for the short trade entry medium-term to be justified and to confirm that we have finished the third wave’s upside.

Short-term shor trades could be opened with a stop loss above 190. Long trades should be opened only upon a confirmed break above 208. This can be traded with options as well.