At the very end of last year, $COIN hit a final high in its last “Go” trend.
GoNoGo Charts triggered a Go Countertrend Correction Icon (red arrow) which indicated price may struggle to go higher in the short term. Indeed, a longer and deeper correction followed, with GoNoGo Trend painting “NoGo” bars through much of January and February. After GoNoGo Oscillator was able to break back into positive territory, GoNoGo Trend rolled through the colors on its way to a new “Go” trend. First it painted weaker pink “NoGo” bars, then amber “Go Fish” before market the resumption of the “Go” trend with strong blue bars. It was at this time that price ran up agains the resistance from the December prior high and briefly backed away. This time there was no change in trend and GoNoGo Oscillator turned around before reaching zero and climbed back higher into positive territory as volume became heavy again. This resurgent momentum was enough to push price above resistance to new highs. We will look for price to consolidate at these new higher levels before making more gains.
