$COIN – The price has bounced off the high-timeframe support range, aligning with the 0.618 Fibonacci POI, exactly as I covered in my prior PAT Updates.

Now it’s nearing the high-timeframe support range marked in green, which has been a strong bottoming formation in the past and also aligns with the Weekly Bull Market Support Band, a major reversal spot over the last couple of weeks.

Because of this, I believe the best approach on the low-timeframes is to stay cautious.

Even though I’ve already scaled out of most of my hedges after the breakdown below the Weekly Bull Market Support Band, I’m still tracking this level closely.

If we see a durable rejection here, I’ll look to scale back into my hedges, since that would likely open the door for a deeper pullback on the mid-term before a reversal back to the upside.