$COIN
Added 2024-10-31 19:21:57 +0000 UTCIs down big today -13% after a double miss after the close yesterday.
Earnings was missed by -37% and the market has not been kind here.
We know when a company misses that the impulse structure is under threat....and things are on a knife edge here.
The 50 Day MA has come to the aid of support so far but it needs to hold here or the pull back infringes upon Subwave 1 and the impulse wave can not be valid in its current form.
It can also not be Wave 4 now because this Wave 4 WOULD infringe upon Wave 1
So there is only one option left here, to hold at the 50 Day MA or we are looking at a breakdown in structure due to the double miss on earnings.
