COIN - Significant Low Forming Coinbase Global, Inc. Class ABATS:COINVIAQUANTToday I will lay out the structure for Coinbase and why it could mark a significant low for COIN, if not the macro bottom, before crypto starts its major rebound. To begin, it is important to look at my last post on COIN to see how things have played out. For more context, please review it: What Happened Since In that idea I expected a rejection from the red RSI line and a move to the lower white trendline. Price moved slightly higher, but the RSI stayed far below the red line I had outlined. That created yet another bearish divergence (outlined with the orange trendline and arrows) and sent price back to the white trendline. The Bullish Divergence Price is now forming a bullish divergence (outlined with the green trendline and arrows) on the daily timeframe. This matters not only for the structure forming, but also because price is once again trying to bottom on the white trendline. The White Trendline For more context on why this trendline is so important, I highly recommend reviewing my weekly outlook post: Dating back to 2021, this trendline has marked major pivot highs and lows. For the past 2 years, Coinbase has traded above it and used it as support, creating major pivot lows at this level. Additional Confluence COIN also found a low at $129.41, only about $10 above the macro 0.786 Fibonacci level, which adds interest around these levels. The Weekly RSI In my weekly Coinbase post, I forecasted that even if price went lower, the RSI would create a higher low. So far, it is respecting that weekly forecast as well. The Bigger Picture With the current market structure forming for crypto, it is very likely that both Coinbase and the crypto market as a whole create significant lows around these levels and start the next move to the upside.