# Coinbase drops as Clarity Act fails to pass

> Technical analyst predicted the crypto legislation would fail and trigger a price decline for COIN stock.
- Title: Coinbase drops as Clarity Act fails to pass · TradingView
- Summary: Technical analyst predicted the crypto legislation would fail and trigger a price decline for COIN stock. Coinbase stock fell after the Clarity Act failed…
- Keywords: coinbase, coin, clarity act, cryptocurrency, elliott wave theory, technical analysis, tsuth, nasdaq, crypto regulation, stock decline, business, finance
- Source: TradingView — https://tradingview.com/chart/COIN/G9fqO23h-Coinbase-Clarity-fails-big-surprise-there-not
- Published: 2026-09-16T00:38:34+00:00
- Read time: 1 min
- Topics: coinbase, coin, clarity act, cryptocurrency, elliott wave theory, technical analysis, tsuth, nasdaq, crypto regulation, stock decline, business, finance
## Analyst expected downward move
The analyst has repeatedly predicted Coinbase would move lower, either in a minor retracement or a larger drop to a new local low.

> As I have said repeatedly, I fully expect price to move lower.
## Clarity Act failure predicted
The analyst correctly anticipated the Clarity Act would fail and cause the stock price to fall, which is exactly what happened.

> I thought the clarity act was going to fail and thus cause price to fall. As of now, that is exactly what has happened.
## Three wave pattern emerging
The chart shows a clear three-wave pattern downward from the recent local top, indicating the structure of the decline.

> I can easily count 3-waves lower from our recent local top.
## Wave iii needs strength
For the turquoise count to play out, the downward move must continue with strength to complete wave iii. Choppy action would favor the white count instead.
## Two counts most probable
The white and turquoise Elliott Wave counts have the highest probability of completing, according to the technical analysis.

> It is the white and turquoise counts that have the highest probability of filling out.
## Long term bottom before moonshot
The orange count suggests this could mark the longer-term bottom before Wave III begins, which would send the price much higher.

> Wave III will send price to the moon.
## Key takeaway

Coinbase stock fell after the Clarity Act failed, with technical analysis suggesting further downside ahead.