$COIN has been in a “Go” trend since the very beginning of November.
A very strong price run saw a high at the end of December that came with a Go Countertrend Correction Icon (red arrow). Since then, we have seen GoNoGo Trend paint weaker aqua bars as price has fallen from that high. There seems to be some support in the form of the area of consolidation from the first two weeks of December and GoNoGo Oscillator has fallen to test the zero line from above. We know that in a strong “Go” trend the zero line should act as support for the oscillator and so we will watch to see if that remains the case. Currently, having been stuck at that level for a few bars we see the beginnings of a GoNoGo Squeeze build. A break out of the Squeeze into positive territory would signal trend continuation and we would look for price to make an attack on that prior high.
