COINBelieve this is COIN bottom here around first quarter
Sold puts for March atm and buying otm calls with proceeds
C2OI34 trade ideas
Coinbase UpdateThe price action to me, in regard to Coinbase, seems obvious. The action since our top of $187.97, has been corrective without a doubt. We have since carved out the a-b waves and currently headed towards the end of this c wave IMO. We dropped last trading session pretty hard and paused at the larger 1.0 extension & 0.382 retracements fibs. The hard drop is a hallmark of a c-wave as I have stated in the past. I still feel we have a little lower to go according to my target box, but Coinbase is building positive divergence on the micros and the larger timeframes. I don't want us to drop below the 0.5 retracement fib @ $114.39, or this is not likely wave (4), and I would need to return to the drawing board. Therefore, the two highest probability endpoints are the smaller 1.0 or 1.236 fibs @ $124.73-$116.96. I'm not saying we can't drop lower, but these are the areas I will be looking at for buying some shares and possibly calls. I will update with any trades made per the usual.
Friendly Reminder: Beginning March 1st (~7 weeks), I will be dramatically changing my posting schedule here on trading view.
Coinbase StockCOIN - a crypto exchange stock which's price is positively correlated with bitcoin. Wave 2 could last till the end of Q1.
$COIN Possible Inverse H&S Neckline RetestPossible aymmetrical Inverse H&S pattern on $COIN. If retests $106-111 neckline as support, then potential target of Nov '21 peak ($350-$430). Clear invalidation with close below the neckline.
$COIN$ Slump till the latest $100supports are on the chart.
S1 is around $100-$102
S2 will be at the level of $88-$89
in the short term, you'd bet decrease the long if you hate to short your target
@Frankie
@Vickie
Coinbase Breakdown them BounceLooks like Coinbase put in a head and shoulders. These are the highs for the past year and a half. The calculated lower target is the bottom of the second yellow arrow which, if it bounces there, would create a parallel channel along with the upsloping orange line (My chart has the corresponding lower orange line as well in anticipation of this bounce. Not sure if this will play out because I'm still learning but if it does it will give me some confidence in my chart analysis skills. Does this look probable to you guys?
time to waitCoinbase stock is currently experiencing a significant decline. To analyze this, let's examine the previous critical positions. Here are the key levels to watch for potential price drops to the target.
Coin breakdownIf you have followed along this is my second call of the Coin local top in the last year. My first price target is the dashed red line and a more bearish scenario would be the Fib below around 118$. I did enter this stock spot around 40$ so am sitting pretty regardless. I do like to buy puts when I think the stock is way over-extended, this rewards those who are patient. I was able to do this with Solana as well. My most bearish target is 115$, but black swans are possible, this is a healthy market correction, and many Grayscale holders are redeeming and selling their BTC which is just a short term challenge. Do remember, Coinbase is the custodian for Blackrock's BTC ETF and they must have a lucrative setup going on here.
Coinbase Update: wave 1 of c complete?As said in my update earlier, the BTC ETF getting approval from the SEC helped propel Coinbase up to hit a more normal b wave target and then got rejected. To the untrained eye one would assume this is just volatile price action and nothing more. Which, yes, it is volatile price action, but it happened for a reason.
Remember how I always say structure is the most important thing when trying to place a count? Well, a waves can either be a 3-wave or 5-wave count. Look at the a wave I have labeled, it ended up carving a 5-wave structure followed by what is ALWAYS a 3-wave count for b. Then we made a mini-5-wave structure that I am calling 1 of c. This "normally" would be followed by a 3-wave structure for wave 2 of c, and then another mini-5-wave down should follow for 3 of c. C waves, however, can also be either a 3-wave or 5-wave structure. That being said, there is a possibility this is a mini-a-wave with a b wave to follow. This makes it very difficult to differentiate between a 3-wave vs. 5-wave structure for c. The hidden clues are usually found in a few different places with MACD being the primary place to distinguish the two.
This all being said, I expect us to move higher in a 3-wave move very soon, if not tomorrow, rather it being for wave 2 of c or wave b. Either way, I don't want us to raise higher than $163.78. That would at minimum invalidate a 5-wave c and make it less likely, though not impossible, for it to be a 3-wave c. B waves can go above a wave tops, but it is much rarer.
I'm not saying we won't drop a tad bit more before raising for our next retrace higher, but if we do it shouldn't be much. Hopefully this all makes sense to y'all. After March 1st, I plan on going into deep detail such as this and explaining things much more thoroughly often. I will also be answering any and all questions at that time. If you have questions for me now, I will answer most of them I'm sure, but you will get un-filtered answers from me after that date of March 1st. Good luck y'all!!
$COIN Short Put Prior to Earnings -1 $110 put 2/16Based on the amount of premium involved I am expecting assignment!
But happy to own and sell calls for the foreseeable future.
NASDAQ:COIN
Short Put
Prior to Earnings
-1 $110 put 2/16
Credit = $455
Breakeven = $105.45 (20% fall from current sp).
35 days to expiration.
(Earnings 2/20/24)
coinbaseA time-out until April 2024 would be appropriate. The crypto market is currently overheated. Keeping a cool head and taking profits would be very smart.
COINBASE-SELL strategy weekly chartso far the strategy is working and we keep the profit order around $ 122.00. The stochastic is negative, and it means potentially to see below $ 100 mark medium-term view.
Strategy SELL @ 145-155.00 and take profit @ 122.00 and SL now @ $ 171.00. Please note that any bounce is a SELL opportunity until we have tested $ 100.00 is my personal viewpoint.
Coinbase, cup and handle predictionCoinbase cup and handle formation. BTC ETF approval should shake things up. Interest rates are predicted to come down this year and I expect stocks to pump and BTC halving to propel BTC into a new ATH in 2024. 60-100k by end of 2024.
Coinbase Partners Africa’s Yellow Card To Expand Global FootholdCoinbase teams up with Yellow Card to bring USDC to 20 African countries, revolutionizing global access to cryptos and financial inclusion.
The leading global crypto exchange, Coinbase has announced a strategic partnership with Africa’s leading stablecoin exchange, Yellow Card, to pioneer the future of money across the continent. Meanwhile, this collaboration aims to provide millions of users in 20 African countries with unprecedented access to USDC, fostering faster, more reliable, and cost-effective transactions through Coinbase and Yellow Card products.
Coinbase and Yellow Card Unite for Financial Inclusion
Coinbase, in a recent blog, unveils a visionary initiative to expand access to its products in emerging economies, starting with Africa. The partnership with Yellow Card, a Coinbase Ventures portfolio company, promises to empower users with seamless access to USDC on the L2 Base, ensuring transactions at fees significantly lower than traditional fiat transfers.
In addition, the announcement showed that Coinbase is broadening product accessibility in emerging economies, commencing with the inclusion of 20 African countries.
Meanwhile, underlining the importance of this collaboration, Coinbase’s statement emphasizes that the partnership addresses specific needs in regions with high inflation rates and heavy dependence on remittances. In addition, the move is poised to bring economic freedom to these areas, protecting savings from currency volatility and facilitating remittances with reduced fees and faster processing times, according to the announcement.
The partnership’s impact extends beyond individual users, particularly benefiting small and medium enterprises (SMEs) in African and other emerging economies. With the integration of USDC, these businesses gain swift access to the global financial system, overcoming challenges related to opening USD and Euro accounts that hinder cross-border growth.
Moreover, in a continent where the majority of the population is young, the initiative aligns with the preferences of a tech-savvy generation. As more than seven in 10 cryptocurrency owners globally are under 34 years old, this move resonates with the expectations of a demographic accustomed to the speed, reach, and autonomy of the internet.
Meanwhile, this strategic partnership aligns with Coinbase’s broader vision of global expansion, following a “Go Broad, Go Deep” strategy. By establishing clear rules and partnerships, Coinbase aims to drive innovation and bring over a billion people into the realm of cryptocurrency. Besides, the collaborative move signifies the inevitability of cryptocurrency as the driving force behind a more open, accessible, and global financial system.
Coinbase Update: Waiting for c of (4)We began this retrace on 29 Dec of last year and thus far it has been pretty standard. This b wave we are in is one of two things, over or complex lol. We did tag the bottom of my upper target box, but just barely. Technically speaking we could be in our wave c of (4) right now, but due to MACD and the structure price has carved out, I believe we are still in C of b of (4).
Once we breach $144.12 to the downside, we will have created a new low and have confirmation wave c has started. Until that price is breached, we can still rise in b, and I will be looking to the 0.618 fib @ $169.83 as a resistance line to bounce off of. Once c starts, we shouldn't fall below $114.39. If we do, then we are most likely dealing with something else aside from a wave 4.
These are the price levels I am watching, and what I will use to help guide me in determining our place in the count. With the way I am counting other stocks, I don't think it is too much of a stretch to think Coinbase should finish this wave b by the end of the week. As y'all know though, I don't predict time, so that is just conjecture as of now.
COINBASE #COIN suggests a cooling off period may occurCOIN is already quite significantly off it's highs
after NEARLY reaching a major Linear inverse Head and shoulders
we now have a lower timeframe Head and shoulders top that has nearly triggered
a warning sign that the crypto market needs a breather.
The target projects down to the initial neckline of the larger pattern.
Wow big moves!
Coinbase"Cathie Wood’s Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, doubled down on its investment in the crypto exchange after the U.S. Securities and Exchange Exchange sued the only publicly traded crypto exchange sending share prices tumbling.
ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday's closing price of $51.61." -Coindesk
......
Considering that this company's stock price is near it's lows, I can see why Ark Investment Management would make that move.
I believe the shift begins once there's a break of the $67 level. Afterwards, it's next potential hurdle could be the $190 - $230 price range. However, I'll be even more bullish after a break of the $320.
Coinbase Update: Still waitingI don't have much to add from my last Coinbase update. The last trading day was pretty lame as not much happened. We did enter my target box so b could be considered complete at this time. I wouldn't be surprised if price raised into my box again for a deeper move up to the 0.618 blue fib though. That is not required, just something that is possible since our last move barely popped into the box, and a standard move would take us deeper.
After b completes, if not already, we will head down for c of (4) before popping up for (5) of ((3)). So far, we're following my pathway very well which is promising. I still plan on buying a couple puts if we do in fact move deeper into my b wave box. I'll look for a strike around $130 with an exp in late Feb. or early March. Let's hope tomorrow I can buy some puts lol.
Reminder: My schedule will change dramatically starting March 1st.
Ark Invest Offloads Another $20.6M Worth of Coinbase Shares
Coinbase ( NASDAQ:COIN ) has been a standout player, attracting attention from investors and institutions alike. Recently, ARK Invest, the renowned investment firm led by Cathie Wood, sold $20.6 million worth of Coinbase shares across its ETFs. This move has sparked discussions about the potential impact on Coinbase's future, given ARK's strategy of maintaining individual stock weightings below 10% of an ETF's value.
ARK Invest's Strategy:
ARK Invest's decision to reduce its exposure to Coinbase comes as no surprise, considering the significant surge in NASDAQ:COIN 's price, doubling in the last three months of 2023. ARK's disciplined approach aims to prevent any individual stock from surpassing a 10% weighting in its ETFs, prompting consistent sales to rebalance the portfolios. While the Innovation ETF (ARKK) still holds over $850 million worth of NASDAQ:COIN , the latest offload has brought its weighting down to 10.04%, hinting at a potential end to the recent sales.
Rebalancing Across ETFs:
The reduction in Coinbase exposure is not limited to ARKK; ARK's Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs also witnessed adjustments. Despite carrying fewer Coinbase shares, their weightings remain relatively higher at 10.37% and 13.41%, respectively. This strategic rebalancing reflects ARK Invest's adaptability to market dynamics and its commitment to maintaining a diversified and risk-managed portfolio.
Coinbase's Price Momentum:
Despite the recent sales, Coinbase's stock is trading near the top of its 52-week range and above its 200-day simple moving average. This indicates sustained investor interest and positive price momentum. The surge in Coinbase's share price, fueled by broader cryptocurrency market trends, has contributed to ARK Invest's decision to rebalance its portfolios, yet the stock continues to show upward momentum, a positive sign for its future value.
Investor Sentiment and Market Trends:
The ongoing interest in Coinbase reflects the broader trend of increasing institutional adoption of cryptocurrencies. As traditional finance institutions and retail investors alike recognize the value and potential of digital assets, Coinbase stands as a key player in providing a gateway to the crypto ecosystem. The recent actions by ARK Invest shed light on the importance of active portfolio management in navigating the volatile cryptocurrency markets.
Conclusion:
Coinbase's journey in the financial markets remains a captivating one, marked by the recent actions of ARK Invest and the continued interest of investors. As the cryptocurrency landscape evolves, Coinbase's role as a leading exchange and its stock's performance will likely continue to be influenced by market dynamics. The recent rebalancing by ARK Invest serves as a reminder of the importance of strategic decision-making in the face of rapidly changing market conditions. While the cryptocurrency industry is known for its volatility, Coinbase's position at the forefront of the digital revolution positions it as a key player to watch in the months ahead.
Momentum, Growth & Innovation: WatchlistAs we dive deeper into our trading strategy inspired by Mark Minervini, I'm excited to share a detailed analysis of our updated watchlist:
www.tradingview.com
This list is meticulously curated, focusing on stocks poised for potential pullback entries, suitable for short to medium-term trades. Here’s what we’ve analyzed:
Selection of Stocks in Strong Uptrends: Our primary filter is selecting stocks exhibiting strong uptrends over the past weeks or months. We use specific criteria like stocks trading above their 50-day and 200-day moving averages, a sign of enduring strength. Additionally, we look for stocks outperforming the market index, indicating relative strength.
Volume Analysis During Pullbacks: We observe the trading volume during pullbacks. An ideal scenario is a pullback on lower-than-average volume, suggesting a lack of selling pressure. A sudden increase in volume can sometimes signal capitulation, which might lead to a potential reversal.
Key Support Levels and Technical Indicators: Stocks approaching critical support levels, such as major moving averages or historical support zones, are of high interest. We combine this with technical indicators like the RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) to gauge oversold conditions and potential bullish divergence.
Price Action and Chart Patterns: We're scrutinizing price patterns that align with Minervini's SEPA (Specific Entry Point Analysis) criteria. This includes looking for stocks forming bases, tight consolidations, or exhibiting orderly pullbacks without significant volume spikes. Flags, pennants, and narrow range days near support areas are particularly noteworthy.
Sector and Market Sentiment Analysis: Understanding the current market sentiment and sector rotation plays a crucial role. Stocks in leading sectors or those showing resilience in a weak market are preferred. We also consider the broader market trend and economic indicators to assess the overall risk environment.
Risk Management and Entry Points: Each stock on our watchlist comes with a predefined risk management plan, including stop-loss levels and potential entry points. We're waiting for a reversal signal, such as a high-volume rebound off a support level or a break of a short-term downtrend line, to initiate positions.
Earnings and Fundamental Check: While our focus is on technical analysis, we don't ignore fundamental aspects. We check upcoming earnings dates and ensure that the stocks have solid fundamentals, aligning with Minervini's preference for quality stocks.
Stocks on the Watchlist:
The provided watchlist represents a curated selection of stocks currently held by ARK Invest, managed by Cathie Wood, renowned for her focus on disruptive innovation and growth investing. This analysis will delve into each sector represented in the watchlist, highlighting the unique attributes and potential of these investments. ARK's strategy is characterized by a deep focus on technology-driven companies and emerging industries, which is evident in this diverse and forward-looking portfolio.
Technology and Internet Services: Dominated by giants like Amazon (AMZN), Microsoft (MSFT), Google (GOOG), and Meta Platforms (META), this sector encapsulates companies at the forefront of digital transformation. Amazon continues to be a leader in e-commerce and cloud computing, while Microsoft and Google drive innovation in software and online services. Meta Platforms, formerly Facebook, is investing heavily in the metaverse, indicating a future-focused strategy.
Semiconductors and Hardware: This category features semiconductor leaders like Taiwan Semiconductor Manufacturing Company (TSM), Nvidia (NVDA), and Advanced Micro Devices (AMD). TSM is critical in the global supply chain, being the world's largest dedicated independent semiconductor foundry. Nvidia and AMD are at the forefront of graphics processing and computing technologies, vital for gaming, AI, and more.
Biotechnology and Healthcare: Represented by CRISPR Therapeutics (CRSP), Regeneron Pharmaceuticals (REGN), and Vertex Pharmaceuticals (VRTX), this sector focuses on cutting-edge medical research and treatments. CRISPR Therapeutics is a pioneer in gene editing, a revolutionary technology in medicine. Regeneron and Vertex are known for their innovative drug discoveries and treatments in various disease areas.
Financial Technology and Cryptocurrencies: This sector includes MercadoLibre (MELI), a leader in e-commerce and financial services in Latin America, and Coinbase (COIN), a prominent cryptocurrency exchange. The inclusion of Grayscale Bitcoin Trust (GBTC) highlights ARK's investment in the evolving landscape of digital currencies and blockchain technology.
Software and Cloud Computing: Companies like Twilio (TWLO), Cloudflare (NET), Intuit (INTU), and Synopsys (SNPS) underscore the growing importance of cloud computing and software solutions across industries. Twilio's communication APIs and Cloudflare's content delivery network are integral to modern internet infrastructure, while Intuit and Synopsys provide critical software services in finance and chip design, respectively.
Gaming and Entertainment: Roku (ROKU) and Roblox (RBLX) represent the dynamic gaming and digital entertainment sectors. Roku's streaming platform and Roblox's online gaming universe cater to the rapidly expanding digital entertainment market.
Cathie Wood’s Ark Invest Sells $20M Of Coinbase Shares
Coinbase ( NASDAQ:COIN ) stands as a key player, providing a gateway for millions to enter the realm of digital assets. However, recent developments, particularly the substantial sell-off of Coinbase shares by Cathie Wood's Ark Invest, have sparked discussions about the platform's future.
Ark Invest's Strategic Moves:
Cathie Wood's Ark Invest has been an influential player in the crypto market, often dictating trends with its strategic moves. The recent sell-off of over $20 million worth of Coinbase shares, totaling 113,823 shares, may raise eyebrows among investors. However, understanding the context is crucial. Ark Invest's active portfolio management strategy, driven by the anticipation of a spot Bitcoin ETF approval by the U.S. SEC, sheds light on the broader perspective.
Spot Bitcoin ETF Approval on the Horizon:
The imminent decision by the U.S. SEC regarding the approval of a spot Bitcoin ETF adds a layer of significance to Ark Invest's actions. The crypto community eagerly awaits the outcome of this decision, with reports suggesting an announcement on January 10. Should the approval materialize, it could mark a transformative moment for the entire cryptocurrency market, potentially influencing Coinbase's future prospects.
Coinbase's Resilience Amidst Sell-Offs:
Despite the sell-offs by Ark Invest funds, Coinbase's resilience cannot be overlooked. The platform's commitment to expansion is evident through its recent announcement of acquiring a MiFID-licensed entity in the EU. This strategic move aims to enhance Coinbase's derivatives offerings in Europe, a clear signal of its commitment to adapting to regulatory changes and expanding its services in a competitive market.
The European Derivatives Expansion:
Coinbase's move to acquire a MiFID-licensed entity represents a pivotal step toward offering cryptocurrency-based derivatives in Europe. While subject to regulatory approval, this development positions Coinbase to capitalize on the growing demand for diversified crypto financial products in the region. The potential approval could fuel Coinbase's growth and contribute to its relevance on a global scale.
Conclusion:
As the crypto landscape undergoes significant shifts, Coinbase remains a central figure in the industry's narrative. The sell-off of Coinbase shares by Ark Invest, while noteworthy, should be viewed in the context of broader market dynamics. The anticipation of a spot Bitcoin ETF approval, Coinbase's strategic moves in Europe, and the positive sentiments from industry leaders contribute to a compelling case for potential buyers. As the crypto story unfolds, Coinbase stands poised to play a pivotal role in shaping the future of digital finance.
Coinbase Update: Still standard movesSome of my posts contained some contraband and were removed. The text has been removed and I am just re-posting so y'all can still see the other information.
This move down has been very swift so far, as in dropped over $50 in less than a week. At this time, I am labeling it as a wave of (4) with wave b starting this morning. On the chart, I have a smaller target box for this little retrace to end. Afterwards, wave c should start and take us towards the 0.382 area and into the larger target box.
Wave (2) was deep so wave 4 should be shallow if they are to alternate. There is the possibility this drop has been all of (4) but that is not my expectation at this time. We're still on neg div with-in this move down which indicates it isn't over yet. I still plan on entering a trade when structure tells us wave (4) is complete. My target area is still around the 0.382 fib @ $128.61.
As I am writing this we are coming into my box lol. Let's see if we get the c wave down started today that I am calling for.
COINBASE-SELL strategy weekly chartCOINBASE is in the process of correcting downwards. However, we may first see a little move higher back towards $ 165.00 - 170.00 before lower. For those with deeper pockets, be short, as we may see $ 120.00 again. The got a doji and hammer top, and stochastic in process of going negative.
Strategy SELL @ 155.00-175.00 and place SL above 195.00 and take profit @ 122.00.
