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Rally in Bitcoin has spillover effect on Coinbase

From home.saxo

COIN has bounced strong the past week after a massive January sell-off. But the corrective move was reversed when COIN closed above 136.89. Bullish scenario further confirmed by a close above the Cloud (Shaded area), above the resistance at around 161.28 and RSI closing back above 60 threshold Medium-term weekly chart COIN has retraced 0.786 of the January sell-off. There is no RSI divergence supporting the bullish picture that could take COIN to the 1.382 projection and resistance level at around 217.50 Rising traded volume the past couple of weeks is adding the bullish picture To reverse the trend short-term a ... (full story)

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  • Category: Technical Analysis