The analysis of Coinbase Global, Inc. (COIN) on the 1-hour timeframe indicates an ongoing A-B-C correction. The asset is currently situated within the C-wave, which is expected to unfold as a five-wave impulsive move. Waves 1, 2, and 3 of this C-wave are identified as completed. The present price action is interpreted as a corrective fourth wave (wave 4), characterized by a three-wave (A-B-C) upward bounce. This corrective bounce touched resistance levels, specifically noting a prior reaction around $240 and a current bounce that reached the 38.20% Fibonacci retracement at $277.86. Further resistance levels for this corrective bounce are identified at the 50% retracement ($293.65) and the 100% extension ($305.37). The ideal target zone for the overall C-wave completion, represented by the blue zone, lies between $240.72 (123.60% extension) and $205.46 (161.80% extension), with a primary support level at $181.18. The analysis posits that following the completion of this corrective fourth wave, a fifth wave down is anticipated to conclude the broader C-wave correction, targeting the lower Fibonacci levels. The $305.37 level serves as a critical invalidation point for the overarching bearish C-wave thesis.