Coinbase - ready for some pain?

It’s make or break for Coinbase. $146 remains very important support. If we lose it then i expect we drop quickly to $126. Lose that, then we are in a whole world of pain.

I have a bearish bias on Coinbase right now. We are breaking out of an ascending wedge pattern and support was lost at the 0.75 Fibonacci Speed Fan. This was confirmed on Friday’s close. It could be a trap and we pop from here but probability suggests a drop. So I expect this to occur in the coming week or two.

If we get a bounce at $146 the trade idea is invalidated. Do you own research, not financial advice.