$COIN – I’m not liking the market structure here at all, as the price has broken below the high-timeframe support range I highlighted in some of my prior updates, aligning with the 0.618 Fibonacci POI at $241, which is a clear sign of weakness.

That said, I’m waiting on further signs before taking a more decisive stance, since this could still end up being just a deviation below support.

However, if the weakness continues, I would look to fully hedge my entire spot position, since a durable break below this range would open the door for a deeper pullback on the mid-term and would be a clear structural invalidation.