Continues to follow $BTC very well and has also rejected at its 50 Day MA once so far.
$BTC is again holding on its 0.23 Fib for now, whereas $COIN has lost its respective level.
I think this is still in a corrective wave and Wave C needs to complete before moving higher.
Long term I think $COIN will benefit from $BTC moving higher and when When C completes, there is a route up to the blue line at $369 next.
Jorge Pérez
2024-05-13 20:58:54 +0000 UTC