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Technical Update - Coinbase and Crypto mining companies lifted by rally in Bitcoin and Ethereum

From home.saxo

Coinbase has bounced from its support at around 161.28 and propelled higher yesterday closing at year high. But there could be further upside potential for Coinbase. Coinbase seems to have formed a pattern called “Cup with a Handle” The correction in February is the Handle pattern. The potential price target after a Cup with a Handle pattern is illustrated by the two vertical arrows. You measure from the depth of the Cup and add the distance to the right edge of the Cup. That gives us a potential price target of 273 However, often an asset is not moving the full potential distance. It is often cut short around the ... (full story)

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  • Category: Technical Analysis