Bearish Analysis – Coinbase (12H Timeframe)Coinbase Global, Inc. Class ABATS:COINOAS1984The overall structure is clearly bearish, with price forming consistent lower highs and lower lows, confirming a strong downtrend on the higher timeframe. Recently, price attempted a recovery but failed to break above the 215 resistance zone, leading to a sharp rejection. This indicates that sellers are still firmly in control and using rallies as opportunities to sell. The current move shows a breakdown from consolidation, which often signals continuation to the downside rather than reversal. Key bearish signals: Strong downtrend structure (LH + LL) Rejection from major resistance (around 215) Weak bounce with no follow-through Breakdown below short-term support (~160) Expected scenario: Continued downside below 160 Move toward 140 support Extended drop targeting the 90–100 demand zone Invalidation: A strong breakout and sustained close above 215 would invalidate the bearish bias and suggest a trend reversal.