Coinbase made an impulsive recovery at the beginning of 2023 along with cryptocurrencies. Since then we can see both markets slowing down within a higher degree correction that can be coming to an end. Coinbase may have actually already a completed complex w-x-y correction and looks like it’s looking for a bullish resumption, which can be easily supportive for the Crypto market. However, bullish confirmation is only above channel resistance line and 85 region.
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USD can make a pullback as US yields drop. Check our blog HERE