COIN is in bullish consolidation post-breakout; potential for secondary breakout to $221.92.
BullishHe framed it in days
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Verified InvestingPublished Aug 31 · 3 passages
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Uh next up on the chart, Coinbase. Now Coinbase recently also has had a very nice breakout, has not yet retraced. As we see here, we're putting in bullish consolidation and we're doing so right in a point of resistance on the chart.
Now, look, today we did put a daily close once again above this declining trend line. We did that back on Thursday, but we didn't follow through when it with an extended move higher with any sort of conviction.
Watch for that tomorrow, and Coinbase could be a secondary breakout on hand with a bull flag measured move up here at $221.92.
Watchpoints
follow-through on the daily close above the declining trend line
What this channel has said about $COIN
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2026-08-31BullishThis one
Uh next up on the chart, Coinbase. Now Coinbase recently also has had a very nice breakout, has not yet retraced. As we see here, we're putting in bullish consolidation and we're doing so right in a point of resistance on the chart.
2026-08-25Bullish
Next up on Coin, also receiving the love from the inflow of cryptocurrencies, much like what's going on over in Hood. You can see price action is now consolidating above its breakout place. Now it did retrace and kissed that trend line today, but notice we never confirmed this was the breakout candle. We never put in any other further days of an extended move above that declining trend line, making the probabilities of a bounce here slightly than what we would have had if we confirmed. Nonetheless, we still put in a great bounce and putting in consolidation. The more of these daily closes up here in this range, $184, $185, will help Coin build momentum to go up and attack this next level of resistance all the way above $200, right around $213 on this inclining trend line that is derived, as I'll show you here 1 second, back from this pivot low back in January of 2023 and how that held price up on many attempts to come from the above to that line and then eventually broke. Look at that retest. Broke again. Look at that retest. Broke again. Look at the retest. Broke again. Consolidated. Now we're looking for the follow-through retest of that trend line. As long as Hood builds that consolidation, that's looks like where we're going to be ending up.
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